EnergyWatch

'Nasty year' leaves oil investors wary as profits fall short

"It was a pretty nasty year, one of the toughest years ever for the global oil industry," said Sarah Emerson, managing director at Energy Security Analysis Inc. As several major oil companies get ready to announce 2016 results, it is clear that grim headlines may not yet be over.

Crude prices may have stabilized, but it is still not a great time to be Big Oil.

Investors eliminated about USD 53 billion in market value for producers over three days as the twin titans of US oil posted their worst annual financial outcomes in decades. With Royal Dutch Shell Plc, Total SA, and BP Plc due to announce 2016 results in coming days, the grim headlines may not yet be over.

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