Big Oil Earnings Beat Estimates on Refining Safety Net: Chart

Shell Beats Profit Estimates on Boost From Refining

The first quarter, predicted by analysts to be the worst in about a decade for the world’s biggest oil companies, didn’t turn out to be so bad. Most, including Exxon Mobil Corp. and Royal Dutch Shell Plc, beat estimates thanks to earnings from refining crude oil and producing chemicals. These businesses acted as the safety net for the companies as crude’s decline pushed their oil and gas production units into losses. 

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