➤ Asia

Sinopec releases its 2023 annual report. In 2023, the company achieved a revenue of 321.2215 billion yuan (approximately 445.3 billion US dollars), a year-on-year decrease of 3.2%; The net profit attributable to the parent company was 60.463 billion yuan, a year-on-year decrease of 9.9%. In 2023, the company's oil and gas equivalent production was 70.92 million tons, a year-on-year increase of 3.1%; Natural gas production reached 37.9 billion cubic meters, a year-on-year increase of 7.1%; Processed 258 million tons of crude oil, a year-on-year increase of 6.3%; The total sales volume of domestic refined oil products reached 188 million tons, a year-on-year increase of 15.8%; Ethylene production reached 14.314 million tons, a year-on-year increase of 6.5%.

Saudi Aramco releases its 20223 performance report. The total revenue decreased by 17%, from $535.19 billion last year to $440.88 billion. Net profit decreased by 25%, from $161.1 billion in 2022 to $121.3 billion. Despite the decline in profits, this result remains Saudi Aramco's second highest net profit in history, far exceeding the profitability of its largest global peers. Saudi Aramco has increased its dividend to nearly $100 billion.

China National Petroleum Corporation releases its 2023 financial report. According to International Financial Reporting Standards, the operating revenue for 2023 is expected to be RMB 3011.012 billion (approximately USD 417.4 billion), a decrease of 7.0% compared to the previous year. The group achieved a net profit attributable to the shareholders of the parent company of 161.146 billion yuan, a year-on-year increase of 8.3%, reaching a historical high. In 2023, the company's oil and gas equivalent production was 1.76 billion barrels, a year-on-year increase of 4.4%. The saleable natural gas production was 4.7 trillion cubic feet, a year-on-year increase of 6.0%. Produced 120 million tons of refined oil, a year-on-year increase of 16.5%.

Japanese refinery ENEOS Holdings, Inc. announced its financial results for the first nine months of the fiscal year (April December 2023). The net sales for the current period were 1024.53 billion yen (approximately 67.7 billion US dollars), compared to 11335.1 billion yen in the same period last year. The current operating profit was 386.3 billion yen, compared to 249.8 billion yen in the same period last year. The net profit attributable to the owners of the parent company for the current period was 206.8 billion yen, compared to 96 billion yen in the same period last year.

Petronas announced its fourth quarter and full year performance for 2023. The total quarterly revenue of the group was 91.7 billion ringgit (approximately 19.4 billion US dollars), compared to 104.2 billion ringgit in the same period last year. After tax profit (PAT) was 16.6 billion ringgit, compared to 24.4 billion ringgit in the same period last year; The earnings before interest, tax, depreciation and amortization (EBITDA) amounted to MYR 24.7 billion, compared to MYR 40.6 billion in the same period last year. The total revenue of the group for the year was 343.6 billion ringgit (approximately 72.7 billion US dollars), compared to 372.3 billion ringgit in the previous year. After tax profit (PAT) was RM80.7 billion, compared to RM101.6 billion in the previous year; The earnings before interest, tax, depreciation and amortization (EBITDA) amounted to RM128.6 billion, compared to RM170.7 billion in the previous year.

CNOOC releases its 2023 annual report. In 2023, the operating revenue will reach 416.609 billion yuan (approximately 57.8 billion US dollars), a year-on-year decrease of 1.3%, mainly due to the increase in oil and gas sales and trade volume, as well as the impact of the decline in international market oil prices; The net profit attributable to shareholders of the listed company was 123.843 billion yuan, a year-on-year decrease of 12.6%.

SK Innovation in South Korea announced its fourth quarter and full year performance for 2023. Quarterly sales of KRW 1.95293 trillion (approximately USD 14.5 billion) and operating profit of KRW 72.6 billion. Among them, the sales revenue of the refining business is 12878 billion Korean won, the sales revenue of the petrochemical business is 2452 billion Korean won, the sales revenue of the lubricating oil business is 1094.2 billion Korean won, and the sales revenue of the battery business is 2723.1 billion Korean won. The annual sales revenue was 772885 billion Korean won (approximately 57.6 billion US dollars), compared to 780569 billion Korean won the previous year. The annual operating profit was KRW 1903.9 billion, compared to KRW 3917.3 billion in the previous year.

Idemitsu Kosan Co., Ltd. announced its financial performance for the first nine months of the fiscal year (April December 2023). The net sales for the current period were 6402.3 billion yen (approximately 42.3 billion US dollars), compared to 721.13 billion yen in the same period last year. The current operating profit was 293.7 billion yen, compared to 298.9 billion yen in the same period last year. The net profit attributable to the owners of the parent company for the current period was 239.1 billion yen, compared to 249.6 billion yen in the same period last year.

GS Caltex Corporation announces full year 2023 results. The annual sales revenue was KRW 48607.5 billion (approximately USD 35.1 billion), compared to KRW 585321 billion in the previous year. The annual operating profit was 1683.8 billion Korean won, compared to 3979.5 billion Korean won in the previous year. The net profit attributable to the owners of the parent company for the whole year was 1152.7 billion Korean won, compared to 2789.4 billion Korean won in the same period last year.

Cosmo Energy announced its financial performance for the first nine months of the fiscal year (April December 2023). The net sales for the current period were 2013.2 billion yen (approximately 13.3 billion US dollars), compared to 2096.1 billion yen in the same period last year. The current operating profit was 101.7 billion yen, compared to 152.9 billion yen in the same period last year. The net profit attributable to the owners of the parent company for the current period was 45.8 billion yen, compared to 62.1 billion yen in the same period last year.

➤ Americas

ExxonMobil announces fourth quarter and full year performance for 2023. The total quarterly revenue was 84.3 billion US dollars, compared to 95.4 billion US dollars in the same period last year. The quarterly net profit attributable to the company was 7.63 billion US dollars, compared to 12.75 billion US dollars in the same period last year. The total revenue in 2023 is 344.6 billion US dollars, and in 2022 it is 413.7 billion US dollars. The net profit attributable to the company for the whole year was 36 billion US dollars, compared to 55.7 billion US dollars in the previous year.

Chevron announced its fourth quarter and full year performance for 2023. The total quarterly revenue was $47.2 billion, compared to $56.5 billion in the same period last year. The quarterly net profit attributable to the company was 2.26 billion US dollars, compared to 6.35 billion US dollars in the same period last year. The total revenue in 2023 is $20.09 billion, and in 2022 it will be $246.3 billion. The net profit attributable to the company for the whole year was 21.4 billion US dollars, compared to 35.5 billion US dollars in the previous year.

Marathon Petroleum Corp. announced its fourth quarter and full year performance for 2023. The total quarterly revenue was 36.8 billion US dollars, compared to 40.1 billion US dollars in the same period last year. The quarterly net profit attributable to the company was 1.451 billion US dollars, compared to 3.321 billion US dollars in the same period last year. The total revenue in 2023 is $150.3 billion, and in 2022 it is $180 billion. The net profit attributable to the company for the whole year was 9.68 billion US dollars, compared to 14.5 billion US dollars in the previous year.

Phillips 66 announces its fourth quarter and full year performance for 2023. The total quarterly revenue was $38.7 billion, compared to $40.9 billion in the same period last year. The quarterly net profit attributable to the company was 1.26 billion US dollars, compared to 1.884 billion US dollars in the same period last year. The total revenue in 2023 is $149.9 billion, and in 2022 it is $175.7 billion. The net profit attributable to the company for the whole year was 7.015 billion US dollars, compared to 11.024 billion US dollars in the previous year.

Valero Energy announces its Q4 and full year 2023 results. The fourth quarter revenue was 35.414 billion US dollars, compared to 41.746 billion US dollars in the same period last year. The net profit attributable to the company's shareholders for the quarter was 1.202 billion US dollars, compared to 3.113 billion US dollars in the same period last year. The annual revenue was 144.766 billion US dollars, compared to 176.383 billion US dollars the previous year. The net profit attributable to the company's shareholders for the whole year was 8.835 billion US dollars, compared to 11.528 billion US dollars in the previous year.

Petrobras announces its fourth quarter and full year performance for 2023. Calculated in US dollars, the fourth quarter sales revenue was 27.1 billion US dollars, compared to 30.2 billion US dollars in the same period last year. The quarterly net profit attributable to the company's shareholders was $8.288 billion, compared to $8.322 billion in the same period last year. The annual sales revenue was 102.4 billion US dollars, compared to 124.5 billion US dollars in the previous year. The net profit attributable to the company's shareholders for the year was $27.2 billion, compared to $34.8 billion in the previous year.

ConocoPhillips announced its fourth quarter and full year performance for 2023. The total revenue for the fourth quarter was 15.3 billion US dollars, compared to 19.3 billion US dollars in the same period last year. The quarterly net profit was $4.01 billion, compared to $3.25 billion in the same period last year. The total revenue for the year was 58.6 billion US dollars, compared to 82.2 billion US dollars in the previous year. The net profit for the whole year was 11 billion US dollars, compared to 18.7 billion US dollars in the previous year.

Occidental (OXY) announced its fourth quarter and full year performance for 2023. The fourth quarter revenue was $7.529 billion, compared to $8.326 billion in the same period last year. The net profit attributable to the company's shareholders for the quarter was 1.029 billion US dollars, compared to 1.727 billion US dollars in the same period last year. The annual revenue was 28.918 billion US dollars, compared to 37.095 billion US dollars in the previous year. The net profit attributable to the company's shareholders for the whole year was 3.773 billion US dollars, compared to 12.504 billion US dollars in the previous year.

➤ Europe

Oil giant Shell announced its 2023 performance. In 2023, the revenue was 316.62 billion US dollars, a year-on-year decrease of about 17%. The adjusted profit for the whole year was 28.25 billion US dollars, lower than the record breaking 39.9 billion US dollars in 2022. The adjusted profit for the fourth quarter was $7.31 billion. The fourth quarter revenue was $78.73 billion, a year-on-year decrease of 22.3%.

Total Energies announces its financial performance for the fourth quarter of 2023. Quarterly revenue was $54.765 billion, a year-on-year decrease of 14%; Net profit was 5.063 billion US dollars, a year-on-year increase of 55%; The adjusted net profit decreased by 31% year-on-year to 5.23 billion US dollars. Quarterly adjusted core earnings (adjusted EBITDA) were $11.7 billion, a year-on-year decrease of 27%. The annual revenue was 218.945 billion US dollars, compared to 263.31 billion US dollars in the previous year; The net profit was 21.384 billion US dollars, compared to 20.526 billion US dollars in the previous year.

BP announced its fourth quarter 2023 performance. Quarterly revenue of 52.59 billion US dollars, a year-on-year decrease of 25.3%; The adjusted net profit was $2.99 billion, compared to $4.81 billion in the same period last year. The annual sales revenue was 210.13 billion US dollars, compared to 241.392 billion US dollars in the previous year. The profit attributable to shareholders for the whole year was 15.239 billion US dollars, with a loss of 2.487 billion US dollars in the previous year.

Equinor, the Norwegian national oil company, announced its financial performance for the fourth quarter and full year of 2023. The total revenue for the fourth quarter was $29.054 billion, down 15% from $34.321 billion in the same period last year. The quarterly operating profit was $8.75 billion, a year-on-year decrease of 47%; The quarterly net profit was 2.608 billion US dollars, a year-on-year decrease of 67%. The main reason for the significant decline in profits is the sharp drop in natural gas prices. The total revenue for the year was 107.174 billion US dollars, down 29% from the previous year's 150.806 billion US dollars. The annual operating profit was 35.77 billion US dollars, a year-on-year decrease of 55%; The net profit for the whole year was 11.904 billion US dollars, a year-on-year decrease of 59%.

Italian energy giant Eni has released its Q4 and full year 2023 financial reports. The fourth quarter sales amounted to 24.6 billion euros (approximately 26.6 billion US dollars), compared to 31.5 billion euros in the same period last year, a year-on-year decrease of 22%. The quarterly adjusted operating profit was 2.769 billion euros, down 23% from 3.582 billion euros in the same period last year. The net profit attributable to the company's shareholders for the quarter was 149 million euros, compared to 627 million euros in the same period last year, a year-on-year decrease of 76%. The annual sales revenue was 93.7 billion euros (approximately 101.5 billion US dollars), compared to 132.5 billion euros in the previous year. The adjusted operating profit was 13.8 billion euros, compared to 20.4 billion euros in the previous year. The net profit attributable to the company's shareholders for the whole year was 4.747 billion euros, a year-on-year decrease of 66% from 13.9 billion euros in the same period last year. 

Rosneft announced a 47.2% surge in net profit for 2023, reaching 1.3 trillion rubles. EBITDA increased by 17.8% to 3 trillion rubles, while revenue grew by 1.3%.

Repsol Group has released its Q4 and full year financial reports for 2023. The fourth quarter revenue was 15.5 billion euros (approximately 16.8 billion US dollars), compared to 16.8 billion euros in the same period last year. The quarterly net profit was 383 million euros, compared to 1.029 billion euros in the same period last year. The annual revenue was 61.6 billion euros (approximately 66.7 billion US dollars), compared to 78.7 billion euros in the previous year. The net profit for the year was 3.168 billion euros, compared to 4.251 billion euros in the previous year.

OMV Group, the Austrian oil and gas group, has released its Q4 and full year financial reports for 2023. The fourth quarter sales revenue was 10.047 billion euros (approximately 10.9 billion US dollars), compared to 14.507 billion euros in the same period last year. The net profit attributable to the shareholders of the parent company for the quarter was 236 million euros, compared to 308 million euros in the same period last year. The annual sales revenue was 39.463 billion euros (approximately 42.7 billion US dollars), compared to 62.298 billion euros in the previous year. The net profit attributable to the shareholders of the parent company for the whole year was 1.48 billion euros, compared to 3.634 billion euros in the previous year.

➤ Oilfield Services

Schlumberger (SLB) announced its fourth quarter and full year performance for 2023. The fourth quarter revenue was $8.99 billion, compared to $7.88 billion in the same period last year. The net profit attributable to the company for the quarter was $1.113 billion, compared to $1.065 billion in the same period last year. The annual revenue was 33.1 billion US dollars, compared to 28.1 billion US dollars last year. The net profit attributable to the company for the whole year was 4.2 billion US dollars, compared to 3.44 billion US dollars in the previous year.

Baker Hughers announces fourth quarter and full year performance for 2023. The fourth quarter revenue was 6.835 billion US dollars, compared to 5.905 billion US dollars in the same period last year. The net profit attributable to the company for the quarter was $439 million, compared to $182 million in the same period last year. The total revenue for the year was $25.5 billion, compared to $21.2 billion the previous year. The net profit attributable to the company for the whole year was 1.043 billion US dollars, with a net loss of 601 million US dollars in the previous year.

Halliburton, an energy product and service provider, announced its fourth quarter and full year performance for 2023. The total revenue for the fourth quarter was 5.739 billion US dollars, compared to 5.582 billion US dollars in the same period last year. The net profit attributable to the company for the quarter was $661 million, compared to $656 million in the same period last year. The total revenue for the year was 23 billion US dollars, compared to 203.2 billion US dollars in the previous year. The net profit attributable to the company for the whole year was 2.638 billion US dollars, compared to 1.572 billion US dollars in the previous year.

CNOOC has disclosed its 2023 annual report. In 2023, the operating revenue will reach 44.109 billion yuan (approximately 6.11 billion US dollars), a year-on-year increase of 23.7%; Net profit was 3.013 billion yuan, a year-on-year increase of 27.8%.