It comes at a time when oil and gas companies are raking in their highest profits since the onset of the coronavirus pandemic.
all announced share buyback programs or increased dividend payouts — or both. It reflects a broader industry trend of energy majors seeking to reassure investors that they have gained a more stable footing amid the ongoing Covid-19 crisis.
These investments are likely to become stranded assets, and investors don't want to be left holding the bag.Ahead of the second-quarter results, energy analysts hadthat Big Oil still faced a host of uncertainties and challenges. Some of these include the remarkable success of shareholder activism in recent months, a "tremendous degree" of ongoing investor skepticism and intensifying pressure to massively reduce fossil fuel use.
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