Europe’s majors face cash fow quandary

摘要

Another set of bumper results is expected from Europe’s leading oil companies when they report their second-quarter fnancial performance during the next couple of weeks. Observers will chiefy be watching out for what these companies plan to do with cash fows that look set to stay strong at a time of higher-for- longer oil and gas prices, with improved shareholder remuneration looking like an obvious choice for boards. But there should also be clues as to how the European majors plan to adapt their strategies to the emerging energy trilemma of security of supply, afordable energy and environmentally sustainable energy systems.