Pessimistic Outlook On European Oil Majors

Hira Shahnawaz Akhtar

Published onSeptember 30, 2013

Updated on May 13, 2021

European oil companies experienced a difficult second quarter in 2013 and this prompted analysts to project a bleak outlook for the remaining part of the year. European integrated oil companies were hit by declining petroleum prices and high taxation in the second quarter. Individual companies operating in the EU reported negative earnings on the basis of certain factors.

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European oil companies see cuts to fiscal earnings expectations

"A difficult second quarter prompted analysts to make further cuts to fiscal 2013 earnings expectations for European oil companies. Lower oil prices and production, coupled with less beneficial exchange rates, caused a reduction...

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Hira Shahnawaz Akhtar

Hira is a financial analyst whose expertise lies in commodity and other financial markets. Hira is currently an independent financial consultant and is working with many international firms like American Arab Solutions (AAS). She has previously served as a Senior Research Analyst at Alternate Research (Pvt.) Ltd. as the Team Leader for the International Equities Research. She has also worked as an equities analyst of Pakistani E&P stocks at Invest Capital Markets. She has experience in business development and conducting feasibility studies in commodity markets, specifically in sugar, palm oil and canola oilseeds. She has cleared all three levels of her CFA (Chartered Financial Analyst) and has an undergraduate degree in Finance.

Pessimistic Outlook On European Oil Majors

European oil companies see cuts to fiscal earnings expectations

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