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Rupert Hargreaves

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  • The Battle For Growth: Exxon Vs. Chevron [View article]
    This is in effect the point I was trying to make. 81% of XOM operations are involved within refining. However, downstream revenues, are almost half that of the upstream revenues. Even though upstream operations account for 81% of XOM operations.

    If you look at CVX you see the same trend. 9 month earnings for upstream operations = $17bn. While Downstream earnings = $3.3bn even though the downstream operations consist of 70% of the business.

    Does that explain it better?
    Nov 28 04:19 PM | 1 Like Like |Link to Comment
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