Energies Media
  • Magazine
    • Digital Magazine
    • Digital Magazine Archive
  • Features
  • Upstream
  • Midstream
  • Downstream
  • Renewable
    • Solar
    • Wind
    • Hydrogen
    • Nuclear
  • People
  • Events
  • Advertise
No Result
View All Result
Energies Media
No Result
View All Result

Q1 Oil Industry Results Reaffirm Industry Instability

by Energies Media Staff
May 2, 2020
in Environment, News, Oil and Gas News, Upstream
Q1 oil industry results reaffirm industry instability
Baker Hughes

Warsaw grants Borynia coking-coal site extended rights to 2042

Saudi Arabia leads region with record upstream oil and gas spending in 2025

Following the release of Q1 results from several oil and gas companies; Ella Benson Easton, Thematic Analyst at GlobalData, a leading data and analytics company, offers her view:

“This year has seen extraordinary volatility in the oil and gas industry. The decline in the cost of renewable energies, an oil price war and COVID-19 have all contributed to the industry’s precarity. Q1 results have reflected the difficult situation, for example, BP’s net profit dropped 67%, ConocoPhillips reported a Q1 loss of $1.7bn, and Royal Dutch Shell reduced dividends by 65% – the first cut for the company since World War II. Sinopec recorded a $2.71bn loss despite fuel sales rebounding.

“These numbers confirm the strain the oil and gas industry is under. The real difficulty for the industry is gaining a degree of stability, particularly given the uncertainty around the full impact of the pandemic on things such as customer behavior and investment priorities.

“Some oil companies have touted more sustainable investments and principles in recent years. Both Shell and BP aim to reach net-zero carbon emissions by 2050. The recently exposed instability in the oil industry makes a speedy transition to sustainable energy a necessity.

“Sustainability will remain a key theme for enterprises across industry sectors well beyond COVID-19. GlobalData’s sustainability framework shows the areas in which companies need to focus their investment to put themselves in a position to succeed. Increased investment in renewable energies and modern technologies is now vital as oil companies insulate themselves against further price shocks. Oil companies that diversify their investments and invest in the sustainability theme will be better placed to survive the long-term effects of the current crisis.”

Q1 oil industry results reaffirm industry instability

Author Profile
Energies Media Staff
Website
Author Articles
  • Energies Media Staff
    https://energiesmedia.com/author/oilmanwp/
    Drones
    September 8, 2025
    Revolutionizing Renewable Energy with Advanced Drone Technology
  • Energies Media Staff
    https://energiesmedia.com/author/oilmanwp/
    Global Shale Oil and Gas Landscape Set for Growth Beyond US
    August 26, 2025
    Global Shale Oil and Gas Landscape Set for Growth Beyond US
  • Energies Media Staff
    https://energiesmedia.com/author/oilmanwp/
    E-Fuels
    August 13, 2025
    2nd Annual World E-Fuels Summit
  • Energies Media Staff
    https://energiesmedia.com/author/oilmanwp/
    What Happens to Solar and Wind Systems During Natural Disasters?
    August 6, 2025
    What Happens to Solar and Wind Systems During Natural Disasters?
  • Energies Media Staff
    https://energiesmedia.com/author/oilmanwp/
    ship on body of water at night
    August 1, 2025
    Industry leaders to speak at Wood Mackenzie’s Carbon Capture, Utilization and Storage Conference 2025
  • Energies Media Staff
    https://energiesmedia.com/author/oilmanwp/
    ROGII and NRGX Technologies Ltd. Partner to Deliver Seamless LAS Data Integration for Upstream Workflows
    July 31, 2025
    ROGII and NRGX Technologies Ltd. Partner to Deliver Seamless LAS Data Integration for Upstream Workflows
CCUS
ADIPEC

In This Issue

Energies Media Summer 2025

ENERGIES Media (Summer 2025)


Dewey Follett Bartlett, Jr.: Tulsa’s Champion of Independents


Letter from the Managing Editor (Summer 2025)


Energies Media Interactive Crossword Puzzle – Summer 2025


NeverNude Coveralls: A Practical Solution for Everyday Dignity


Moving Energy Across Space and Time


The Hidden Value in Waste Oil: A Sustainable Solution for the Future


Maximizing Clean Energy Tax Credits Under the Inflation Reduction Act


Meeting Emergency Preparedness and Response Criteria


Bringing Safety Forward in Offshore Operations


ENERGIES Cartoon (Summer 2025)


How to Deploy Next-Gen Energy Savers Without Disrupting Operations


Why Energy Companies Need a CX Revolution


U.S. Oil Refineries Face Critical Capacity Test Amid Rising Demand

E-Fuels
ADIPEC
  • Terms
  • Privacy

© 2025 by Energies Media

No Result
View All Result
  • Magazine
    • Digital Magazine
    • Digital Magazine Archive
  • Features
  • Upstream
  • Midstream
  • Downstream
  • Renewable
    • Solar
    • Wind
    • Hydrogen
    • Nuclear
  • People
  • Events
  • Advertise

© 2025 by Energies Media