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BizTech

Big five oil companies reward investors with $114B in 2023

ExxonMobil, Chevron and Shell boosted investor payouts, as they reported their second-highest annual profits. The five super-majors together spent around 114 billion dollars in 2023 on dividends and share buybacks. And analysts expect the companies to pay even higher distributions this year despite weaker commodity market prices leading to lower profits.

February 13, 2024