Oil Majors Are Facing a Major Dilemma

Big Oil Braces for Impact as Pace of Buybacks Becomes Untenable- Oil majors are confronted with a difficult dilemma as the investor community is anticipating Q3 2024 results, as most would find it very hard to replicate last year’s performance when they’ve paid more than $272 billion in dividends and share repurchases.   - Share buybacks would need to be downscaled as Chevron, ExxonMobil, and TotalEnergies would need to borrow $5-8 billion each to maintain the current pace of buybacks, with ENI most probably offsetting some…