Despite lower profits, European and US oil & gas giants soldier on with ‘solid’ results

Two European oil majors – TotalEnergies and Eni – and their U.S. counterparts – ExxonMobil and Chevron – have reported strong operating and financial performance in the third quarter of 2023 amid decreased oil and gas prices, which are nowhere near the highs observed in 2022. All of these energy players are continuing to pursue more hydrocarbons while optimizing their portfolios by branching out into low-carbon and green sources of supply in the transition journey to net zero.