Trending News:Texas Oil Regulator Hails ‘Oil Theft Bust’Iraq Hikes Oil Exports via Hormuz in Boon for Asian RefinersHormuz Disruptions Could Drag Into Next Year, Japanese Tanker Giant WarnsRussia Says Oil Output Drop Is Temporary as Refineries RestartNorway Seizes Russian Cruise Ship to Enforce Naftogaz’s $4.22 Billion ClaimSuez Canal Economic Zone targets energy potential as Egypt–China ties strengthenBrazil orange juice waste-to-biogas plant nears completionChinese Refiners Pay Record Premiums for Russian ESPO CrudeEurope’s Low Gas Stocks Set Stage for Winter LNG BattleGlobal Refining Crunch Could Keep Fuel Prices High Into 2027Stade FLNG to commission in November providing Germany supply boostAvnos commissions 450-tonne hybrid DAC plant in New JerseyIndian Markets Slip As Green Energy Stocks Deliver Mixed Performance (03 September 2026)eCap Marine to fit hydrogen propulsion on two new vesselsInox Clean Energy Raises INR 3,100 Crore in Equity to Expand Renewable IPP and Solar Manufacturing BusinessesFinland gives go ahead for wood-based biogenic CO2 plantChevron Bets $7 Billion on Venezuela Oil ExpansionOPEC+ Set to Hold Oil Output Steady as Iran War Disrupts SupplyAsian Oil Buying Spree Sends Dubai Crude Toward $100Asian LNG Prices Surge to Highest Since 2022 as Iran War EscalatesFull-scale onboard carbon capture hits 40% but port bottleneck remainsIEX Records Highest-Ever Monthly Electricity Trading Volume of 13,938 MU in August 2026CEA Proposes 15% Grid-Forming Inverters And Mandatory ESS For Renewable Projects From 2027Back British Biogas campaign closes next MondayUAE And Nigeria Discuss 5,000 MW Power Generation ExpansionNetherlands duo target wood waste for biomethanol and biomethaneSEMI and Silicon Catalyst team up on global semiconductor innovationHormuz Traffic Craters to Four Ships as Iran-U.S. Strikes EscalateIndustrial zone plan to boost localisation for Uzbek nuclear projectRosatom signs EPC contract for Kazakhstan nuclear plantProject to consider trans-Atlantic nuclear-powered cargo shipsUN Warns Global Warming Will Top 1.5C Within YearsPakistan Rejects Costly LNG Cargo as Blackout Risk DeepensDiesel Cracks Hit Record Highs as Global Fuel Squeeze DeepensQatar and UAE Turn to Rare LNG Ship Transfers as Hormuz Crisis Drags OnKazakhstan to Double Oil Refining Capacity by 2040India Boosts Far East Russian Oil Imports as War Upends Trade RoutesRyanair Warns Some Airlines Could Struggle with Jet Fuel Price SpikeAI Could Unlock $230B for Oil, Gas, OFSE Cos, McKinsey SaysGalactic Energy joins reusable rocket raceGalactic Energy joins reusable rocket raceMeritus enters Arizona market with Allied Gases and Welding Supplies acquisitionUS LNG exports up 23% in first half of 2026, reports EIASwitzerland launches cross-border BECCS CO2 supply chainColumn: How energy-efficient motors can cut biogas plant costsQatar and UAE LNG cargoes transferred ship-to-ship outside HormuzIndia Daily: Andaman & Nicobar Tenders 20 MWh BESS, NLC–OREDA Form Green JV, UPCL Tenders BESS, BERC Reviews 70 MW LTA, REC Transfers Luhri SPV, BERC Reviews OA ChargesYellow Door Energy, Nedbank CIB Reach Financial Close on 49 MWp Lion Thorn Solar Park in South AfricaNorthern Endurance Partnership receives pipelay vesselBessent Says Strait of Hormuz Obsolete Within Two YearsU.S. Shale Producers Lose Bid to Kill Oil Price-Fixing CaseU.S. Crude Inventories Drop amid Continued SPR DrawsU.S. Energy Secretary Says Venezuela Could More Than Double Oil ProductionHormuz Shipping Slumps as U.S.-Iran Strikes Rattle Oil MarketsBuckeye expands Colorado footprint with Wagner Welding Supply buyPower Sector Investments to Drive 100–200 bps Revenue Growth for Large EPC Companies: CRISIL RatingsNippon Sanso expands UK dry ice businessGoodWe Included in BloombergNEF Tier 1 Power Inverter List for Sixth Consecutive QuarterAdani Green Energy Crosses 20 GW Operational Renewable Capacity With 139 MW Khavda Solar ProjectTerraPower selects more suppliers for Natrium componentsDecommissioning of Chernobyl units progressingRosatom considers Murmansk site focused on floating power plant constructionBlykalla seeks state aid for second SMR plantHelical selected for Japanese fusion demonstration projectRussia Doubles Dark Fleet to Ship LNG to AsiaU.S. Energy Storage Capacity Installations Hit Record High in Q2Asia Spot LNG Prices Hit 5-Month High as Hormuz Blockage Drags OnU.S. Oil Deal Pushes China and Russia Out of Venezuelan FieldsEurope’s Wind Power Buildout Jumps 30% in First HalfPrice, Not Politics, Is Driving Most of India’s Oil BuyingUkrainian Drone Barrage Sets Key Russian Oil Port AblazeSolar Overtakes Coal as China’s Largest Power SourceTwo Supertankers Hit by Unknown Projectiles in Strait of HormuzWhat Is the Oil, Gas Impact of Storm Edouard?Datacentrex takes minority stake in Eagle LNG to support US space launch buildoutCheniere nears completion of CCL Stage 3 and reaches export milestoneJFE Steel selected for DeepStar CO2 pipeline projectIndia Daily: PM Surya Ghar Subsidy, POWERGRID Acquires Fatehgarh II, BPCL Tenders 1 MW Solar, VPA Advances 10 MW Solar, CEA Backs Flexible ThermalIndian Green Energy Stocks Show Mixed Trend As Adani Green Leads Gains (01 September 2026)Hijau Raises $10 Million to Scale Distributed Solar Projects Across IndonesiaPhilippines DA, DOE Plan 3 Million-Hectare Farmland Shield Against Solar ExpansionMinistry Of Energy Targets 5,200 Schools For Solar Power Installations In Saudi ArabiaCoal Got an Order. Nuclear Got a MeetingCondenser Chemistry Management: From Grab Samples to Predictive Digital TwinsSLB Makes $3.4 Billion Bet on AI Data Center BoomBP Adds 80 MMcf/d to Egypt’s Gas Supply Two Years Ahead of ScheduleChevron, ONGC and GE Vernova Near Final Venezuela Energy DealsOil Prices Climb as Trump Threatens New Strikes on IranBlue Star Helium extends Pinon Canyon offtake deal to 2027Ireland connects second biomethane plant and eyes export potentialgasworld US – September 2026 – Equipment, digitization and distributors issuegasworld Global – September 2026 – LNG & LogisticsH2 View – September 2026: ElectrolysersABO maps development for 600MW Finnish green hydrogen plantIndia and Uzbekistan eye uranium deal as ties growChevron nears deal to operate two giant oil fields in Venezuela’s Orinoco BeltFuel loading under way for Palisades restart, Holtec announcesIAEA concern over diesel supply for Zaporizhzhia generatorsTennessee issues licence for fusion plantProposal for Canadian marine-based SMR plant
Trending News:Texas Oil Regulator Hails ‘Oil Theft Bust’Iraq Hikes Oil Exports via Hormuz in Boon for Asian RefinersHormuz Disruptions Could Drag Into Next Year, Japanese Tanker Giant WarnsRussia Says Oil Output Drop Is Temporary as Refineries RestartNorway Seizes Russian Cruise Ship to Enforce Naftogaz’s $4.22 Billion ClaimSuez Canal Economic Zone targets energy potential as Egypt–China ties strengthenBrazil orange juice waste-to-biogas plant nears completionChinese Refiners Pay Record Premiums for Russian ESPO CrudeEurope’s Low Gas Stocks Set Stage for Winter LNG BattleGlobal Refining Crunch Could Keep Fuel Prices High Into 2027Stade FLNG to commission in November providing Germany supply boostAvnos commissions 450-tonne hybrid DAC plant in New JerseyIndian Markets Slip As Green Energy Stocks Deliver Mixed Performance (03 September 2026)eCap Marine to fit hydrogen propulsion on two new vesselsInox Clean Energy Raises INR 3,100 Crore in Equity to Expand Renewable IPP and Solar Manufacturing BusinessesFinland gives go ahead for wood-based biogenic CO2 plantChevron Bets $7 Billion on Venezuela Oil ExpansionOPEC+ Set to Hold Oil Output Steady as Iran War Disrupts SupplyAsian Oil Buying Spree Sends Dubai Crude Toward $100Asian LNG Prices Surge to Highest Since 2022 as Iran War EscalatesFull-scale onboard carbon capture hits 40% but port bottleneck remainsIEX Records Highest-Ever Monthly Electricity Trading Volume of 13,938 MU in August 2026CEA Proposes 15% Grid-Forming Inverters And Mandatory ESS For Renewable Projects From 2027Back British Biogas campaign closes next MondayUAE And Nigeria Discuss 5,000 MW Power Generation ExpansionNetherlands duo target wood waste for biomethanol and biomethaneSEMI and Silicon Catalyst team up on global semiconductor innovationHormuz Traffic Craters to Four Ships as Iran-U.S. Strikes EscalateIndustrial zone plan to boost localisation for Uzbek nuclear projectRosatom signs EPC contract for Kazakhstan nuclear plantProject to consider trans-Atlantic nuclear-powered cargo shipsUN Warns Global Warming Will Top 1.5C Within YearsPakistan Rejects Costly LNG Cargo as Blackout Risk DeepensDiesel Cracks Hit Record Highs as Global Fuel Squeeze DeepensQatar and UAE Turn to Rare LNG Ship Transfers as Hormuz Crisis Drags OnKazakhstan to Double Oil Refining Capacity by 2040India Boosts Far East Russian Oil Imports as War Upends Trade RoutesRyanair Warns Some Airlines Could Struggle with Jet Fuel Price SpikeAI Could Unlock $230B for Oil, Gas, OFSE Cos, McKinsey SaysGalactic Energy joins reusable rocket raceGalactic Energy joins reusable rocket raceMeritus enters Arizona market with Allied Gases and Welding Supplies acquisitionUS LNG exports up 23% in first half of 2026, reports EIASwitzerland launches cross-border BECCS CO2 supply chainColumn: How energy-efficient motors can cut biogas plant costsQatar and UAE LNG cargoes transferred ship-to-ship outside HormuzIndia Daily: Andaman & Nicobar Tenders 20 MWh BESS, NLC–OREDA Form Green JV, UPCL Tenders BESS, BERC Reviews 70 MW LTA, REC Transfers Luhri SPV, BERC Reviews OA ChargesYellow Door Energy, Nedbank CIB Reach Financial Close on 49 MWp Lion Thorn Solar Park in South AfricaNorthern Endurance Partnership receives pipelay vesselBessent Says Strait of Hormuz Obsolete Within Two YearsU.S. Shale Producers Lose Bid to Kill Oil Price-Fixing CaseU.S. Crude Inventories Drop amid Continued SPR DrawsU.S. Energy Secretary Says Venezuela Could More Than Double Oil ProductionHormuz Shipping Slumps as U.S.-Iran Strikes Rattle Oil MarketsBuckeye expands Colorado footprint with Wagner Welding Supply buyPower Sector Investments to Drive 100–200 bps Revenue Growth for Large EPC Companies: CRISIL RatingsNippon Sanso expands UK dry ice businessGoodWe Included in BloombergNEF Tier 1 Power Inverter List for Sixth Consecutive QuarterAdani Green Energy Crosses 20 GW Operational Renewable Capacity With 139 MW Khavda Solar ProjectTerraPower selects more suppliers for Natrium componentsDecommissioning of Chernobyl units progressingRosatom considers Murmansk site focused on floating power plant constructionBlykalla seeks state aid for second SMR plantHelical selected for Japanese fusion demonstration projectRussia Doubles Dark Fleet to Ship LNG to AsiaU.S. Energy Storage Capacity Installations Hit Record High in Q2Asia Spot LNG Prices Hit 5-Month High as Hormuz Blockage Drags OnU.S. Oil Deal Pushes China and Russia Out of Venezuelan FieldsEurope’s Wind Power Buildout Jumps 30% in First HalfPrice, Not Politics, Is Driving Most of India’s Oil BuyingUkrainian Drone Barrage Sets Key Russian Oil Port AblazeSolar Overtakes Coal as China’s Largest Power SourceTwo Supertankers Hit by Unknown Projectiles in Strait of HormuzWhat Is the Oil, Gas Impact of Storm Edouard?Datacentrex takes minority stake in Eagle LNG to support US space launch buildoutCheniere nears completion of CCL Stage 3 and reaches export milestoneJFE Steel selected for DeepStar CO2 pipeline projectIndia Daily: PM Surya Ghar Subsidy, POWERGRID Acquires Fatehgarh II, BPCL Tenders 1 MW Solar, VPA Advances 10 MW Solar, CEA Backs Flexible ThermalIndian Green Energy Stocks Show Mixed Trend As Adani Green Leads Gains (01 September 2026)Hijau Raises $10 Million to Scale Distributed Solar Projects Across IndonesiaPhilippines DA, DOE Plan 3 Million-Hectare Farmland Shield Against Solar ExpansionMinistry Of Energy Targets 5,200 Schools For Solar Power Installations In Saudi ArabiaCoal Got an Order. Nuclear Got a MeetingCondenser Chemistry Management: From Grab Samples to Predictive Digital TwinsSLB Makes $3.4 Billion Bet on AI Data Center BoomBP Adds 80 MMcf/d to Egypt’s Gas Supply Two Years Ahead of ScheduleChevron, ONGC and GE Vernova Near Final Venezuela Energy DealsOil Prices Climb as Trump Threatens New Strikes on IranBlue Star Helium extends Pinon Canyon offtake deal to 2027Ireland connects second biomethane plant and eyes export potentialgasworld US – September 2026 – Equipment, digitization and distributors issuegasworld Global – September 2026 – LNG & LogisticsH2 View – September 2026: ElectrolysersABO maps development for 600MW Finnish green hydrogen plantIndia and Uzbekistan eye uranium deal as ties growChevron nears deal to operate two giant oil fields in Venezuela’s Orinoco BeltFuel loading under way for Palisades restart, Holtec announcesIAEA concern over diesel supply for Zaporizhzhia generatorsTennessee issues licence for fusion plantProposal for Canadian marine-based SMR plant
A combination of file photos shows the logos of five of the largest publicly traded oil companies; BP, Chevron, ExxonMobil, Shell and TotalEnergies. REUTERS
A combination of file photos shows the logos of five of the largest publicly traded oil companies; BP, Chevron, ExxonMobil, Shell and TotalEnergies. REUTERS
Summary
Current payouts unsustainable with oil below $80 a barrel
Crude oil prices expected to continue falling
Companies under pressure to cut debt
Reduced buybacks and job cuts announced
The five biggest global oil majors are moving to cut costs, jobs and share buybacks as falling oil prices threaten to make shareholder payouts unsustainable without increasing debt, analysts said.
Chevron, ExxonMobil, BP, Shell and TotalEnergies have pledged high returns for the past decade to avert an investor exodus as fossil fuels lost their appeal.
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But maintaining those generous payouts, which have topped $100 million annually since 2022, has increasingly been funded by debt as energy prices retreated from highs caused by sanctions and supply disruptions in the wake of Russia’s invasion of Ukraine.
Oil majors, now pressed to reinvest in exploration and production, must choose between cutting some operations, letting debt rise to unsustainable levels or weaning shareholders off popular but pricey returns.
Rising global oil output, meanwhile, is expected to keep prices falling, leaving the majors facing some difficult decisions.
A bar chart showing the annual amount spent on dividends and share buybacks from 2019 to 2025 by five major energy firms: Chevron, Exxon, BP, Shell and TotalEnergies. The total amount has exceeded $100 billion annually since 2022.
Most oil majors need oil prices above $80 a barrel to sustain current levels of dividends and share buybacks, which hit record highs buoyed by bumper profits in 2022, according to data from RBC Capital Markets and BofA Global Research.
A chart showing what oil price European energy majors need in order to sustain shareholder payouts.
A line chart showing the evolution of the Brent Crude oil price from January 2022 to September 2025, during which it lost nearly 40% of its value.
To contend with lower prices, TotalEnergies said it will reduce its buybacks from the fourth quarter of this year and to the tune of $7.5 billion by the end of 2030 to reduce debt.
A chart presenting the gearing — a measure of debt to equity — for major energy companies.
BP and Chevron have reduced buybacks this year. Shell has not announced plans for any cuts to its buyback programme.
More than a dozen energy companies have announced job cuts for 2025 and 2026, including ExxonMobil, Chevron, Shell and BP.
(This story has been refiled to fix the hyperlink in the last paragraph)
Reporting by America Hernandez in Paris Additional reporting by Stephanie Kelly in London Editing by David Goodman
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