The final set of financial numbers for 2019, and for an interesting decade in terms of oil prices, came to an end as a tale of two parts. With the quarter characterised by stubborn crude prices despite OPEC+’s efforts and slumping gas prices amid a global glut, it was always going to be a challenging quarter. Most numbers from supermajors and majors came in as disappointing, but there were several bright spots where even the most optimistic expectations were exceed.
Shell, the first to report, set the tone for the cycle, showing a 48% fall in net profits from a 19% y-o-y drop in revenue. Citing weaker refining and chemical margins from slowing global growth with China and the US still locked in a trade war, the weaker results led Shell to scale back the pace of its US$25 billion share buyback programme. With only US$1 billion of shares to be bought back in Q12020 – down from the regular US$2.75 billion per quarter. Shell warned that the programme’s schedule was still at risk due to the softening global economy. It is likely that Shell will miss its deadline of completing the buyback by end-2020; investors were not impressed, and sent Shell’s share prices down to a two-year low in response.
The US supermajors came next, with both ExxonMobil and Chevron failing to meet market expectations. For ExxonMobil, revenue and net profits were both down by 5%, with the company blaming the ‘tough environment’ and depressed margins for its oil, gas, refining and chemicals businesses that will spill into 2020. Its financials, however, were boosted by the sale of its non-strategic assets in Norway, and noted that its oil extraction in Guyana was going ahead of schedule and could have a positive impact on Q1 financials. Unlike ExxonMobil, Chevron did not have strategic asset sales to fall back on. In fact, it went the opposite way. Having warned investors that it was preparing to take a major write-down on a collection of assets, including shale gas production in Appalachia and deepwater projects in the Gulf of Mexico, the final charge came in at US$10.4 billion. That wiped Chevron’s profits out, reporting a net loss of US$6.6 billion for Q419. Segment performance was stable, beating analyst expectations in some cases. But the pressure of low oil and gas prices will persist.
Things then got better. In the final results for retiring CEO Bob Dudley, who will be replaced by Bernard Looney, BP reported net profits of US$2.57 billion, exceeding even then highest analyst estimate. With a solid upstream performance and boosted by its in-house trading arm, BP bucked the negative trend, allowing it to raise its dividend level, a notion that it had rejected in the last quarter, while also completing a US$1.5 billion share buyback programme. Rounding off the quintet, Total also exceed the expectations of the market. Although the French company was also affected by slumping natural gas prices, along with strikes at its French refineries, record production boosted net profits to US$3.17 billion, almost unchanged y-o-y. The ramp-up of key natural gas projects, Yamal in Russia and Ichthys in Australia, along with the start of the Egina and Kaombo crude oil projects in West Africa, raised upstream output by 9% over a quarter where all other rivals saw their production decline.
When the decade started in 2010, crude oil prices were riding high at US$80/b. It would soon peak at nearly US$120/b in 2011, stay elevated for 3 years, halving by end-2014, slumping down to US$30/b in 2016 before beginning a gradual recovery. This 10-year see-saw ride has been mirrored in the financial performance of the energy supermajors. With a new decade starting with plenty of uncertainty, the fiscal discipline adopted since 2015 by the supermajors will be key to supporting their business activities going forward in troubled times.
Supermajor Financials Q4 2019:
Something interesting to share?
Join NrgEdge and create your own NrgBuzz today
“Communication is an art. Period”
It is true when we say that connecting with people is not everyone’s cup of tea. The first step is listening and then responding accordingly.
When it comes to chatting services, it becomes even more crucial to be clear and transparent.
It falls under the category of Managed Chat Services. People are trained to know inside out about a particular service/product.
But what are the exact requirements and features for anyone to become a chat service agent? Find about them below:
This form of communication requires the agent to understand the need of the user properly and respond in a way that the easiest for them to understand. This differs from person to person easily.
It has been found that using managed services helps in acquiring customers and converting leads easily. People get quick quality responses which creates a good image of the seller in their minds.
Be quick in responding. This show how alert and active the employees are. If the response takes a long amount of time, then it can leave the customer frustrated. This can end up creating a negative impact on the customer.
There can be times when a shopper can get distracted or can get busy exploring other options/varieties online. This can look like the customer has helped but the reality is far away from it. Give the user a sufficient amount of time before declaring a chat dead or unresponsive.
A Propane Bullet Tank, also known as LPG Above Ground Tanks, is used for storing liquid natural gas. The tanks have components that best fit your company's needs and are available in various sizes.
The size of a propane bullet tank can be anything from 6,000 and 30,000 gallons, with an 18,000 tank generally the most popular. Tank fill levels should not exceed 70–80% for liquid natural gas to expand inside the vessel.
For holding trucks to reach the site and collect liquids, a tank's average pressure should be approximately 250 psi. This will keep liquid natural gas contained and under low pressure.What & Where Is Propane Bullet Tank Used?
You're undoubtedly wondering, "Where should I utilize or keep them?" A propane bullet tank is linked to the cold separator drain on a Joule Thomson System (JTS) or mechanical refrigeration devices for the collection and short-term storage of the recovered natural gas liquids.
These tanks are also utilized in refineries and other end-use facilities for the bulk storage of goods that can be sold, such as propane or butane.
LPG is kept in propane bullet tanks because the liquid gas needs to be kept under intense pressure to remain fluid. Bullet tanks effectively do this because of their evenly dispersed, consistent pressure. Since there are no edges, there is also no possibility of a variable pressure region.
What Can a Propane Bullet Tank Do?
A channel called a bulkhead stanchion prevents unintentional vehicle pull-away.
The most important valve on any tank is the pressure relief valve. It is intended to release too much pressure.
The level gauge continuously measures the levels of liquid natural gas.
Reduces fluid loss during emergencies thanks to the emergency shutoff valve.
If trucking drives away while the hoses are still attached and move, the bulkhead, flexible hose, and hose couplings protect the piping. The flexible hoses won't break the ridged pipework; they will stretch.
The high-pressure regulator controls the pneumatic pressure necessary for all ESVs to operate effectively.
GasnTools offer the most excellent propane Bullet tanks at affordable prices. Offering high-quality bullet tanks is what they are involved in doing due to their knowledge and experience in this particular field.
LPG gas is frequently kept and stored in these tanks. These LPG Above Ground Tanks serve a variety of industrial utilities quite effectively. Only top-notch raw materials and cutting-edge technologies are used when making this tank.
Nitrogen in liquid form is a colorless, odorless, nonflammable, inert cryogenic liquid. It has a boiling point of less than -130 °F (-196 °C). Although this product is freezing, Nitrogen is widely used in chemical analysis during sample preparation. It is employed in the concentration and condensing of liquid sample volumes. It is used in the production of explosives, nylon, nitric acid, fertilizers, and color-safe operation precautions must be taken when handling or using it in Dubai.
Buy Liquid Nitrogen Cylinder in the UAE from GasNtools and improve the display of your frozen items!Ways To Deliver Nitrogen
You must be wondering where to buy nitrogen gas. GasNtools is one of the best liquid nitrogen suppliers that can meet your needs for nitrogen gas no matter what they are. They provide nitrogen to:
Compressed nitrogen is offered in a variety of cylinder sizes:
40-liter nitrogen cylinder with a 6 m3 capacity at 140 bar and a 10 m3 capacity at 200 bar.
Different-sized pour spouts of liquid nitrogen are available.
Massive service: For high-volume applications, liquid nitrogen is transported in cryogenic tankers to on-site storage. It is kept as a cryogenic liquid in a vacuum-insulated vessel that can hold enough over many days and is available as either a liquid or a gas on demand.
It has spread throughout the industry and is now widely used in restaurants to quickly freeze liquids to ice creams and desserts for live food displays. Because liquid nitrogen has a temperature of -196 °C, the liquid ice cream mixture can be quickly cooled and frozen. Any remaining nitrogen escapes as a gas. Another advantage of freezing is that it reduces dehydration losses, which can reach crucial economic tiers with these items under ambient air. The cost of liquid nitrogen in Dubai is completely inexpensive. As a result, many customers approach GasNtools to obtain this nitrogen gas quickly and affordably.
Although liquid nitrogen is safe in food and beverages, it should not be consumed immediately. Before providing it to the customer, it must have vanished entirely from the food or drink. Because it can be highly hazardous or devastating if not handled properly, this product is only maintained by trained chefs.
When managing liquid Nitrogen, wear dielectrics gloves and carefully made PPEs (Personal Protective Equipment).
GasNtools is Dubai's most dependable nitrogen gas supplier. They always transport nitrogen gas in a trustable container. You must use a service elevator to transport this gas.