[–] derram 0 points 0 points (+0|-0) ago 

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Oil majors reverse decade of stalled growth to beat supply crunch fears | Reuters

'Unlike in the previous decade, when U.S. oil output growth was driven by independent firms, majors such as Exxon plan to be the driving force behind the new cycle. '

'REUTERS/Sergei Karpukhin/File PhotoMajors were unable to grow output for the past decade even as oil prices soared above $100 per barrel due bad capital discipline and huge project delays. ', "The oil price slump since 2014 has prompted the world's biggest oil firms to drastically cut costs but also to force contractors to make projects more efficient and extract the same amount of barrels for fewer dollars."

'"Oil prices are above $50 a barrel, companies are generating cash and are starting to talk about growth again, we are at that point of the cycle."'

'Total leads the group of oil majors with a return on average capital employed, a ratio of profitability versus investments,of 10.2, with Exxon second at 7.3, according to Kenney. '

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