SHEL - Q1 integrated and refining results - key earnings drivers and guidance commentary

Integrated oil and refining stocks have seen mixed performance in 2022. The commodity markets have been broadly supportive of higher share prices; however, war in Ukraine has brought challenges for the sector. US-focused Chevron (CVX) has seen shares advance 47% year to date, while Total's (TTE) stock is broadly flat, given Russia-related risks. Refining-focused OMV (OTCPK:OMVKY) is down year-to-date because of Russian exposure, while US-based PBF (PBF) is up over 100%. Throughout Q1 results season, investors are likely to focus on a few key drivers of earnings and outlooks across the sector:  Strategy - BP (BP), Exxon (XOM) and others have announced plans to exit Russia; however, details of those plans remain unclear and adjustments to strategy in a "post Russia" oil investment world have not been broached - BP's (BP) plans for selling Rosneft will be a key feature of results, while investors will look to see how peers

For further details see:

Q1 integrated and refining results - key earnings drivers and guidance commentary