The five integrated supermajors – ExxonMobil (NYSE: XOM), BP (NYSE: BP), Shell (NYSE: RDS.A), Chevron (NYSE: CVX), and Total (NYSE: TOT) – posted a combined record loss of $76 billion in 2020. Rystad Energy has highlighted that the five integrated supermajors – ExxonMobil (NYSE: XOM), BP (NYSE: BP), Shell (NYSE: RDS.A), Chevron (NYSE: CVX), and Total (NYSE: TOT) – posted a combined record loss of $76 billion in 2020. Rystad noted that the major chunk of this loss, $69 billion, can be attributed to asset impairments and write-offs as the supermajors re-evaluated their strategy to focus on the energy transition and become less dependent on petroleum. All five majors reported net losses last year, with ExxonMobil reporting the largest at $22.4 billion, followed by Shell and BP which also incurred losses of more than $20 billion, Rystad outlined. The company said Total and Chevron fared better than their peers, […]