Booming shale production lifts Exxon, Chevron forecasts as oil and gas earning season kicks off

Ain’t that funny? Not long ago, two other supermajors were the darlings of the financial world for their woke and virtue-signaling policies and their renewables portfolios. Those are BP and Shell. And EXXON plus Chevron looked a bit like going down into the second league. And now, as energy reality has hit the world, it’s the exact contrary that comes true. BP and Shell seem to be on their way into the lower leagues of energy and the conventional energy blockbusters EXXON and Chevron are on their way to becoming the first true Ultramajors. Well done – they did not dump on oil & gas and the markets rewarded them for their realistic stance. 

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