The top five oil companies' revenues fall by 31% in 2020

According to today's oil price report on May 25, according to data compiled by Finbold, the total revenue of the world's five largest oil and gas companies in 2020 has fallen by 30%, but their total revenue is still more than $1 trillion.

In 2020, the plunge in oil prices and demand has had a huge impact on the operations of all oil and gas companies in the world, and the upstream and downstream departments of the company have been affected by the epidemic crisis.

Earlier this year, data compiled by the Anadolu Agency showed that Exxon Mobil, Chevron, ConocoPhillips, Halliburton, Schlumberger, Baker Hughes, Shell, BP, Total, Eni, Norway The total revenue of Petronas, Lukoil, Rosneft, and Saudi Arabia’s National Petroleum Corporation has dropped by 35.

According to data from the Anadolu Agency, Shell’s revenue fell the most, down 48%.

Rising oil prices in the first quarter of this year helped many companies increase their profits.

Wang Jiajing excerpted and translated from today's oil prices

The original text is as follows:

Top Five Oil Firms Saw Revenues Fall 31% In 2020

The five largest oil and gas companies in the world saw their combined revenues drop by 30 percent last year, although they still generated more than $1 trillion in total revenues, according to data compiled by Finbold.

The collapse of the oil prices and demand last year was the biggest drag on those companies' sales, as well as on the revenues of all other oil and gas firms.

　　The oil price and demand collapse last year hit all oil companies' revenues and earnings, as both the upstream and downstream divisions suffered from the pandemic-driven crisis.

　　Earlier this year, data compiled by Anadolu Agency showed that the biggest oil companies in the world, including Big Oil, Saudi Aramco, Russia's top oil producers, and the top oilfield services providers, saw their combined revenues fall by 35.

　　The agency analyzed the financial statements of the 14 biggest firms—ExxonMobil, Chevron, ConocoPhillips, Halliburton, Schlumberger, Baker Hughes, Shell, BP, Total, Eni, Equinor, Lukoil, Rosneft, and Saudi Aramco.

　　Shell's revenues dropped the most—by 48 percent—while BP, Aramco, and Exxon all saw their respective revenues fall by more than 30 percent in 2020 compared to 2019, according to the data pulled by the Anadolu Agency.

　　This year, higher oil prices during the first quarter helped many companies to boost profits, and some, like Shell raised dividends, while others like BP resumed share buybacks this quarter after more than tripling first-quarter earnings.