Note: The start time of each company's fiscal year is different from that of a natural year, so there may be inconsistencies between the fiscal quarter and year. Companies may report their results on a quarterly or semi-annual basis.
Asia
Sinopec disclosed its 2023 annual report. In 2023, the company achieved operating income of 3,212.215 billion yuan (about US$445.3 billion), a year-on-year decrease of 3.2%, and net profit attributable to the parent company of 60.463 billion yuan, a year-on-year decrease of 9.9%. In 2023, the company's oil and gas equivalent production was 70.92 million tons, a year-on-year increase of 3.1%, natural gas production was 37.9 billion cubic meters, a year-on-year increase of 7.1%, processed crude oil was 258 million tons, a year-on-year increase of 6.3%, the total domestic refined oil sales volume reached 188 million tons, a year-on-year increase of 15.8%, and ethylene output was 14.314 million tons, a year-on-year increase of 6.5%.
Saudi Aramco publishes its 20223 results. Total revenue fell 17% to $440.88 billion from $535.19 billion in the previous year. Net profit fell 25% to $121.3 billion from $161.1 billion in 2022. Despite the decline in earnings, the result was Aramco's second-highest net profit ever, far exceeding the profitability of its largest global peers. Saudi Aramco raised its dividend to nearly $100 billion.
PetroChina released its 2023 financial report. In accordance with IFRS, the operating income in 2023 will be RMB3,011.012 billion (approximately US$417.4 billion), a decrease of 7.0% from the previous year. The Group's net profit attributable to shareholders of the parent company was 161.146 billion yuan, a year-on-year increase of 8.3%, a record high. In 2023, the company's oil and gas equivalent production will be 1.76 billion barrels, a year-on-year increase of 4.4%. Saleable natural gas production was 4.7 trillion cubic feet, up 6.0% year-over-year. The production of refined oil was 120 million tons, a year-on-year increase of 16.5%.
Japanese refiner ENEOS Holdings, Inc. Announced results for the first nine months of the fiscal year (April-December 2023). Net sales for the period were 102453 billion yen (approximately US$67.7 billion), compared to 113351 billion yen in the same period last year. Operating profit for the period was 386.3 billion yen, compared to 249.8 billion yen in the same period last year. Net income attributable to owners of the parent company for the period was 206.8 billion yen, compared to 96.0 billion yen in the same period last year.
Petronas announces fourth quarter and full year 2023 results. Group revenue for the quarter was RM91.7 billion (US$19.4 billion), compared to RM104.2 billion in the year-ago quarter. Profit after tax (PAT) was RM16.6 billion, compared to RM24.4 billion in the year-ago quarter, and earnings before interest, taxes, depreciation and amortisation (EBITDA) amounted to RM24.7 billion, compared to RM40.6 billion in the year-ago quarter. Group revenue for the full year was RM343.6 billion (US$72.7 billion), compared to RM372.3 billion in the previous year. Profit after tax (PAT) was RM80.7 billion, compared to RM101.6 billion in the previous year, and earnings before interest, taxes, depreciation and amortisation (EBITDA) amounted to RM128.6 billion, compared to RM170.7 billion in the previous year.
CNOOC Limited released its 2023 annual report. In 2023, the operating income will be 416.609 billion yuan (about 57.8 billion US dollars), a year-on-year decrease of 1.3%, mainly due to the increase in oil and gas sales and trade volume and the decline in oil prices in the international market, and the net profit attributable to shareholders of listed companies will be 123.843 billion yuan, a year-on-year decrease of 12.6%.
South Korea's SK Innovation announced its fourth-quarter and full-year 2023 results. Quarterly sales were 195293 billion won (about 14.5 billion U.S. dollars) and operating profit was 72.6 billion won. Among them, the sales of oil refining business were 12,878 billion won, the sales of petrochemical business were 2,452 billion won, the sales of lubricants business were 1,094.2 billion won, and the sales of battery business were 2,723.1 billion won. Full-year sales were 772885 billion won (approximately USD 57.6 billion), compared to KRW 780569 billion in the previous year. The full-year operating profit was 1,903.9 billion won, compared to 3,917.3 billion won in the previous year.
Idemitsu Kosan Co., Ltd. Announced results for the first nine months of the fiscal year (April-December 2023). Net sales for the period were 6,402.3 billion yen (about 42.3 billion U.S. dollars), compared to 7,211.3 billion yen in the same period last year. Operating profit for the period was 293.7 billion yen, compared to 298.9 billion yen in the same period last year. Net income attributable to owners of the parent company for the period was 239.1 billion yen, compared to 249.6 billion yen in the same period last year.
GS Caltex Corporation announces full-year 2023 results. Full-year sales were 486075 billion won (approximately USD 35.1 billion), compared to KRW 585321 billion in the previous year. The full-year operating profit was 1,683.8 billion won, compared to 3,979.5 billion won in the previous year. Net profit attributable to owners of the parent company for the full year was 1,152.7 billion won, compared to 2,789.4 billion won in the same period last year.
Cosmo Energy announced its results for the first nine months of its fiscal year (April-December 2023). Net sales for the period were 2,013.2 billion yen (about 13.3 billion U.S. dollars), compared to 2,096.1 billion yen in the same period last year. Operating profit for the period was 101.7 billion yen, compared to 152.9 billion yen in the same period last year. Net income attributable to owners of the parent company for the period was 45.8 billion yen, compared to 62.1 billion yen in the same period of the previous year.
Americas
Exxon Mobil reports fourth-quarter and full-year 2023 results. Total revenue for the quarter was $84.3 billion, compared to $95.4 billion in the year-ago quarter. Net income attributable to the company for the quarter was $7.63 billion, compared to $12.75 billion in the year-ago quarter. Total revenue in 2023 is $344.6 billion, compared to $413.7 billion in 2022. Net profit attributable to the company for the full year was US$36.0 billion, compared to US$55.7 billion in the previous year.
Chevron reports fourth-quarter and full-year 2023 results. Total revenue for the quarter was $47.2 billion, compared to $56.5 billion in the year-ago quarter. Net income attributable to the Company for the quarter was $2.26 billion, compared to $6.35 billion in the year-ago quarter. Total revenue in 2023 is $200.9 billion, compared to $246.3 billion in 2022. Net income attributable to the Company for the full year was US$21.4 billion, compared to US$35.5 billion in the previous year.
Marathon Petroleum Corp. Announced fourth quarter and full year 2023 results. Total revenue for the quarter was $36.8 billion, compared to $40.1 billion in the year-ago quarter. Net income attributable to the Company for the quarter was $1,451 million, compared to $3,321 million in the year-ago quarter. Total revenue in 2023 is $150.3 billion, compared to $180 billion in 2022. Net profit attributable to the Company for the full year was US$9.68 billion, compared to US$14.5 billion in the previous year.
Phillips 66 announces fourth quarter and full year 2023 results. Total revenue for the quarter was $38.7 billion, compared to $40.9 billion in the year-ago quarter. Net income attributable to the Company for the quarter was $1.26 billion, compared to $1.884 billion in the year-ago quarter. Total revenue in 2023 is $149.9 billion, compared to $175.7 billion in 2022. The net profit attributable to the company for the full year was US$7.015 billion, compared to US$11.024 billion in the previous year.
Valero Energy announces fourth quarter and full year 2023 results. Fourth-quarter revenue was $35.414 billion, compared to $41.746 billion in the year-ago quarter. Net income attributable to shareholders of the Company for the quarter was $1,202 million, compared to $3,113 million in the year-ago quarter. The annual revenue was 144.766 billion US dollars, compared with 176.383 billion US dollars in the previous year. Net profit attributable to shareholders of the Company for the full year was US$8,835 million, compared to US$11,528 million in the previous year.
Petrobras announces fourth quarter and full year 2023 results. In U.S. dollar terms, fourth-quarter sales revenue was $27.1 billion, compared to $30.2 billion in the year-ago quarter. Net income attributable to shareholders of the Company for the quarter was $8,288 million, compared to $8,322 million in the year-ago quarter. Annual sales revenue was $102.4 billion, compared to $124.5 billion in the previous year. Net income attributable to shareholders of the Company for the full year was US$27.2 billion, compared to US$34.8 billion in the previous year.
ConocoPhillips reports fourth-quarter and full-year 2023 results. Total revenue for the fourth quarter was $15.3 billion, compared to $19.3 billion in the year-ago quarter. Net income for the quarter was $4.01 billion, compared to $3.25 billion in the year-ago quarter. Total revenue for the year was $58.6 billion, compared to $82.2 billion in the previous year. Net income for the full year was $11.0 billion, compared to $18.7 billion in the previous year.
Occidental (OXY) announced its fourth-quarter and full-year 2023 results. Fourth-quarter revenue was $7,529 million, compared to $8,326 million in the year-ago quarter. Net income attributable to shareholders of the Company for the quarter was $1,029 million, compared to $1,727 million in the year-ago quarter. The annual revenue was US$28.918 billion, compared to US$37.095 billion in the previous year. Net profit attributable to shareholders of the Company for the full year was US$3,773 million, compared to US$12,504 million in the previous year.
Europe
Oil giant Shell reports 2023 results. Revenue in 2023 will be $316.62 billion, down about 17% year-on-year. Full-year adjusted profit was $28.25 billion, down from a record $39.9 billion in 2022. Adjusted profit for the fourth quarter was $7.31 billion. Fourth-quarter revenue was $78.73 billion, down 22.3% year-over-year.
Total Energies announces its financial results for the fourth quarter of 2023. Quarterly revenue was $54.765 billion, down 14% year-over-year, net income was $5.063 billion, up 55% year-over-year, and adjusted net income was down 31% year-over-year to $5.23 billion. Quarterly adjusted core earnings (adjusted EBITDA) were $11.7 billion, down 27% year-over-year. Full-year revenue was US$218.945 billion, compared to US$263.31 billion in the previous year, and net profit was US$21.384 billion, compared to US$20.526 billion in the previous year.
British Petroleum (BP) reports fourth-quarter 2023 results. Quarterly revenue was $52.59 billion, down 25.3% year-over-year, and adjusted net income was $2.99 billion, compared to $4.81 billion in the year-ago quarter. The annual sales revenue was 210.13 billion US dollars, compared with 241.392 billion US dollars in the previous year. Profit attributable to shareholders for the year was US$15.239 billion, compared with a loss of US$2.487 billion in the previous year.
Equinor announces its financial results for the fourth quarter and full year 2023. Total revenue in the fourth quarter was $29.054 billion, compared with $34.321 billion in the same period last year, a year-on-year decrease of 15%. Quarterly operating profit was $8.75 billion, down 47% year-over-year, and quarterly net profit was $2.608 billion, down 67% year-over-year. The sharp decline in earnings was mainly due to a sharp decline in natural gas prices. The total revenue for the year was US$107.174 billion, compared with US$150.806 billion in the previous year, a year-on-year decrease of 29%. Operating profit for the full year was US$35.77 billion, down 55% year-on-year, and net profit for the year was US$11.904 billion, down 59% year-on-year.
Italian energy giant Eni Group (ENI) has announced its fourth-quarter and full-year 2023 financial results. Fourth-quarter sales were 24.6 billion euros (about $26.6 billion), compared with 31.5 billion euros in the same period last year, down 22% year-on-year. Adjusted operating profit for the quarter was 2,769 million euros, compared to 3,582 million euros in the prior-year quarter, down 23 percent year-on-year. Net profit attributable to shareholders of the company for the quarter was 149 million euros, compared to 627 million euros in the prior-year quarter, a year-on-year decrease of 76%. Full-year sales amounted to 93.7 billion euros (approximately $101.5 billion), compared to 132.5 billion euros in the previous year. Adjusted operating profit was 13.8 billion euros, compared to 20.4 billion euros in the previous year. Net profit attributable to shareholders of the company for the full year was 4.747 billion euros, compared to 13.9 billion euros in the same period of the previous year, a year-on-year decrease of 66%.
Rosneft reported a 47.2% surge in net profit in 2023 to 1.3 trillion rubles. EBITDA increased by 17.8% to 3 trillion rubles, and revenues increased by 1.3%.
Repsol Group announces its financial results for the fourth quarter and full year 2023. Revenue in the fourth quarter was 15.5 billion euros ($16.8 billion), compared to 16.8 billion euros in the year-ago quarter. Net income for the quarter was 383 million euros, compared to 1,029 million euros in the prior-year quarter. Full-year revenue was 61.6 billion euros (approximately $66.7 billion), compared to 78.7 billion euros in the previous year. Net profit for the full year was 3,168 million euros, compared to 4,251 million euros in the previous year.
The Austrian oil and gas group (OMV Group) reports its financial results for the fourth quarter and full year 2023. Sales revenue in the fourth quarter was 10,047 million euros (approximately $10.9 billion), compared to 14,507 million euros in the same period last year. Net income attributable to shareholders of the parent company amounted to 236 million euros in the quarter, compared to 308 million euros in the prior-year quarter. Full-year sales revenue was 39.463 billion euros (about 42.7 billion US dollars), compared to 62.298 billion euros in the previous year. Net profit attributable to shareholders of the parent company for the full year amounted to 1.48 billion euros, compared to 3.634 billion euros in the previous year.
Oilfield Services
Schlumberger (SLB) announces fourth-quarter and full-year 2023 results. Fourth-quarter revenue was $8.99 billion, compared to $7.88 billion in the year-ago quarter. Net income attributable to the Company for the quarter was $1,113 million, compared to $1,065 million in the year-ago quarter. Full-year revenue was $33.1 billion, compared to $28.1 billion in the previous year. Net income attributable to the Company for the full year was $4.2 billion, compared to $3.44 billion in the prior year.
Baker Hughers Announces Fourth Quarter and Full Year 2023 Results. Fourth-quarter revenue was $6,835 million, compared to $5,905 million in the year-ago quarter. Net income attributable to the Company for the quarter was $439 million, compared to $182 million in the year-ago quarter. Total revenue for the year was $25.5 billion, compared to $21.2 billion in the previous year. Net income attributable to the Company for the full year was $1,043 million, compared to a net loss of $601 million in the previous year.
Halliburton, a provider of energy products and services, has announced its fourth-quarter and full-year 2023 results. Total revenue for the fourth quarter was $5,739 million, compared to $5,582 million in the year-ago quarter. Net income attributable to the Company for the quarter was $661 million, compared to $656 million in the year-ago quarter. Total revenue for the year was $23 billion, compared to $203.2 billion in the previous year. Net income attributable to the company for the full year was US$2,638 million, compared to US$1,572 million in the previous year.
CNOOC disclosed its 2023 annual report. In 2023, the company will achieve operating income of 44.109 billion yuan (approximately US$6.11 billion), a year-on-year increase of 23.7%, and net profit of 3.013 billion yuan, a year-on-year increase of 27.8%.
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