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Oil Majors Continue To Take On Debt to Pay Dividends
The second quarter saw a remarkable plunge in refining margins, taking away the one source of comfort for the integrated oil majors.

Oil Major Debt at Record Level as Companies Refuse to Cut Dividends
The oil majors are living off of yesterday’s discoveries, and choosing to pay shareholders at the expense of future growth.

Oil Majors Post Dramatic Losses in Q1 Earnings, but Still Beat Estimates
If oil prices do not rebound substantially, the oil majors will not be able to keep up such high levels of spending and still offer shareholders such generous dividends.