Pessimistic Outlook On European Oil Majors

European oil companies experienced a difficult second quarter in 2013 and this prompted analysts to project a bleak outlook for the remaining part of the year. European integrated oil companies were hit by declining petroleum prices and high taxation in the second quarter. Individual companies operating in the EU reported negative earnings on the basis of certain factors.

European oil companies see cuts to fiscal earnings expectations

"A difficult second quarter prompted analysts to make further . . .


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