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As crude fades, big oil must borrow to pay investors

Business Mirror LogoBusiness Mirror2d ago

As crude fades, big oil must borrow to pay investors - Business Mirror

Quick Summary:

Weaker crude prices and refining margins are likely forcing four of the five super major oil companies to borrow money to fund $15 billion in share buybacks for the most recent quarter, raising doubts over the payouts’ long-term sustainability.

Exxon and Chevron have debt-to-capital ratios below 15 percent according to data compiled by Bloomberg, well below their medium-term target range of 20percent to 25 percent.

Chevron’s stock has trailed its US rival this year after its $53 billion deal to buy Hess Corp.stalled due to an arbitration battle with Exxon.


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Article Details

Author / Journalist: Kevin Crowley & William Mathis | Bloomberg

Category: BusinessStartups

Markets:

Topics:

Source Website Secure: Yes (HTTPS)

News Sentiment: Neutral

Fact Checked: Legitimate

Article Type: News Report

Published On: 2024-10-29 @ 11:11:53 (2 days ago)

News Timezone: GMT +8:00

News Source URL: businessmirror.com.ph

Language: English

Article Length: 871 words

Reading Time: 5 minutes read

Sentences: 33 lines

Sentence Length: 27 words per sentence (average)

Platforms: Desktop Web, Mobile Web, iOS App, Android App

Copyright Owner: © Business Mirror

News ID: 23325662

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About Business Mirror

Business Mirror Logo

Main Topics: BusinessStartups

Official Website: businessmirror.com.ph

Update Frequency: 70 posts per day

Year Established: 2005

Headquarters: Philippines

News Last Updated: 15 hours ago

Coverage Areas: Philippines

Ownership: Independent Company

Publication Timezone: GMT +8:00

Content Availability: Local / Regional

News Language: English

RSS Feed: Available (XML)

API Access: Available (JSON, REST)

Website Security: Secure (HTTPS)

Publisher ID: #37

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