Sheila dang and Sharma
Cheston-Chevron (Chevron), Exxon Mobil and Exxon Mobil and Exxon Mobil and Shell have reported the income of the fourth quarter, and the profits of the oil refinery refinery refiner Nothing was greatly affected by production fuel.
In 2024, the increase in global refining capacity, coupled with the growth of sputtering demand, damaged the profit margin of refining.
Chevron's stock (CHEVRON) shares have fallen 4 % after the report has cut business losses for the first time since 2020, resulting in the profit estimate of Wall Street's second oil producer in the United States.
Chevron CEO Mike Wingh said in an interview: "We see that the softening of profit margins in 2024 is what you can continue to see, which can be extended to 2025. "
When he had a problem about the recession of the refinery on an analyst, he said at a conference call after graduation: "There is no doubt that this is a weak fourth quarter."
"I will not call it a perfect storm, but this is a quarter of it, all of which are smooth, which is negative."
Wurgus said that Chevron will focus on what it can control to rebound, including the arrangement and maintenance of the refinery next year.
Exxon Mobil's stock price fell 2.5 %. Earlier, it reported that after the third quarter, the revenue of refining fell 75 %. On Friday, a wider range of Standards S & P 500 energy department index fell 2.8 %.
Kathryn Mikells, Chief Financial Officer of Ekson, said in an interview that after the opening of new refineries in different countries around the world, the refinery business still faces additional fuel supply pressure.
She said: "This is actually what we observe in 2025."
The first oil producer in the United States still uses the highest oil fields in the Permian Basin and the latest oil -hot -spots.
Shell, headquartered in the UK, said on Thursday that although it did not plan to withdraw from the refining business, it did not intend to expand.
The company's fourth quarter revenue decreased from almost the previous year to 3.66 billion US dollars, partly because the refining profit margin was weak.
Shells sold its refining and chemical hubs in Singapore last year and plans to close another factory in Vessel, Germany.
Fighting the independent refinery
Although higher oil and natural gas production helps reduce the impact of oil refining profits, because fuel demand has faltering in the United States and China (two largest oil consumers), pure oil refineries have been hit.
The fourth quarter of Phillips (Phillips) 66 decreased from $ 1.26 billion in the same period last year to $ 8 million. Valero's refining profit fell 73 % in the fourth quarter.
Valero CEO Lane Riggs said on Thursday that two American refineries will be closed this year, and limited increases after 2025 will help long -term support for refining profit margins.
Investors are also worried that US President Donald Trump threatens tariffs on crude oils imported from Canada and Mexico on February 1, which may increase the cost of American refineries.
The main energy of French oil will report on February 5th's performance in the fourth quarter and the British oil producer BP report on February 11.
BP warns that the decline in profit margins and the impact of turnover and maintenance activities will lead to a quarter -quarter decrease of up to 300 million US dollars.
(Report by Sheila Dang in Houston; editors of Richard Valdmanis, Simon Webb and Marguerita Choy))