As the first of the oil majors publish their annual results in 2022, we take the opportunity to extract the key takeaways from these releases. After a very strong start to 2022 within both the up and downstream segments of the market, it is no surprise that earnings came in at historical record highs finishing at nearly double the levels realized through 2021.
Last week, we gave a webinar that focused on our expectations for US shale, Canadian and Gulf of Mexico oil production in 2022. We then leveraged these projections to forecast US crude exports for this year, as well as where that growth should come from.
Tracking on Saras refinery runs in Q3 shows that the company is likley to miss its quarterly guidance