{"id":490199,"date":"2022-05-09T09:50:05","date_gmt":"2022-05-09T04:20:05","guid":{"rendered":"https:\/\/infralive.com\/web\/?p=490199"},"modified":"2022-05-09T10:33:50","modified_gmt":"2022-05-09T05:03:50","slug":"big-oil-prolonging-crude-oil-crunch-across-the-globe","status":"publish","type":"post","link":"https:\/\/infralive.com\/web\/big-oil-prolonging-crude-oil-crunch-across-the-globe\/","title":{"rendered":"Big Oil prolonging crude oil crunch across the globe"},"content":{"rendered":"<p>Big Oil \u2014 a group that includes Shell Plc, TotalEnergies SE, BP Plc, Exxon Mobil Corp and Chevron Corp \u2014 is raking in historic amounts of cash, but the windfall isn\u2019t being invested in new production to help displace Russian oil and gas. Instead, executives are rewarding shareholders \u2014 setting the world up for an even tighter energy market in the years ahead. <\/p>\n<p>The West\u2019s five biggest oil companies together earned $36.6 billion over and above their spending in the first quarter, or about $400 million in spare cash a day. It was the second-highest quarterly free cash flow on record and enough to relegate billions of dollars of Russia-related writedowns to mere footnotes in their recent earnings reports.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Big Oil \u2014 a group that includes Shell Plc, TotalEnergies SE, BP Plc, Exxon Mobil Corp and Chevron Corp \u2014 is raking in historic amounts of cash, but the windfall isn\u2019t being invested in new production to help displace Russian oil and gas. Instead, executives are rewarding shareholders \u2014 setting the world up for an even tighter energy market in the years ahead. The West\u2019s five biggest oil companies together earned $36.6 billion over and above their spending in the first quarter, or about $400 million in spare cash a day. It was the second-highest quarterly free cash flow on [&hellip;]<\/p>\n","protected":false},"author":40,"featured_media":0,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[146,130,177],"tags":[],"class_list":["post-490199","post","type-post","status-publish","format-standard","hentry","category-deccan-herald-newspapers","category-newspapers","category-oil-gas-deccan-herald-newspapers"],"acf":[],"_links":{"self":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/posts\/490199","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/users\/40"}],"replies":[{"embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/comments?post=490199"}],"version-history":[{"count":0,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/posts\/490199\/revisions"}],"wp:attachment":[{"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/media?parent=490199"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/categories?post=490199"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/infralive.com\/web\/wp-json\/wp\/v2\/tags?post=490199"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}