US big four oil companies’ debt level hit records highs amid oil sell-off
|The big four US oil companies are facing mountains of debt as they struggle with oil sell-off that has lasted for almost two years.
As per the WSJ report, Exxon Mobil Corp., Royal Dutch Shell PLC, BP PLC and Chevron Corp. hold a combined net debt of $184 billion—more than double their debt levels in 2014.
That should not come as a surprise since oil prices began their decline in July 2014, when prices were trading around $100 levels.
However, the huge debt figure means their ability to pay dividends and conduct exploration projects is under question.
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