Some of the world’s largest energy companies are saddled with their highest debt levels ever as they struggle with low crude prices, raising worries about their ability to pay dividends and find new barrels.Just a reminder.
Exxon Mobil Corp. , Royal Dutch Shell PLC, BP PLC and Chevron Corp. hold a combined net debt of $184 billion—more than double their debt levels in 2014, when oil prices began a steep descent that eventually bottomed out at $27 a barrel earlier this year. Crude prices have rebounded since, but still hover near $50 a barrel.
Wednesday, August 24, 2016
Largest Oil Companies’ Debts Hit Record High . Exxon, Shell, BP and Chevron have combined debts of $184 billion amid two-year slump.
The Wall Street Journal reports:
Posted by Steve Bartin at 11:16 AM