Oil Supermajors Dig Out of Doldrums as Cash Poised to Surge
- Top 5 probably increased cash by 67% last quarter, HSBC says
- Companies still need ‘significant’ price recovery, Citi says
Goldman's Currie Says It's Time to Own Commodities Again
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Big Oil’s struggle against crude’s collapse is starting to ease, giving some companies enough cash to pay shareholders without piling on more debt.
The world’s five biggest non-state oil producers, known as the supermajors, probably increased cash from operations by a combined 67 percent last quarter from a year earlier, according to HSBC Bank Plc analysts Gordon Gray and Kim Fustier. That may allow some to cover dividends and capital spending without borrowing for the first time since 2012, they said.