The pickup up in oil quotations this year is lifting profits nicely and we believe that this trend can continue throughout the next year. Strong demand in the chemicals division and a lower cost structure are also helping performance.
The high dividend yield likely indicates concerns about oil demand and the push for electric vehicles over the very long term. That changeover may take many years, but we believe this "green" transition could bring much more benefits to the price of crude oil.
Total profit estimated for fy 2021: 16.2 bil.
Total debt: 45.0 bil.
The high dividend yield likely indicates concerns about oil demand and the push for electric vehicles over the very long term. That changeover may take many years, but we believe this "green" transition could bring much more benefits to the price of crude oil.
Total profit estimated for fy 2021: 16.2 bil.
Total debt: 45.0 bil.
