Economics
Goldman Says Big Oil Is Poised for Its Best Year in Decades
- Oil majors may see a surplus of cash in 2018 as slump ends
- Reduction in lending has hampered smaller competitors
A refinery stands in the background as a pump jack operates in an oil field near Corpus Christi, Texas, U.S., on Thursday, Jan. 7, 2016.
Photographer: Eddie Seal/Bloomberg
This article is for subscribers only.
Big Oil’s slump is over and industry domination beckons, according to Goldman Sachs Group Inc.
In 2018, companies from Royal Dutch Shell Plc to Exxon Mobil Corp. will find themselves with a surplus of cash to fund dividends, ruling the world of deep water mega-projects and even coming out ahead in tax negotiations with oil-reliant governments around the globe, according to Michele Della Vigna, Goldman’s head of energy-industry research.