Big Oil Holds Steady on Dividends Despite Oil Price Slump

The world’s biggest international oil and gas firms are sticking to their dividend distribution policies as most met or exceeded analyst expectations of first-quarter profits. BP and Chevron reduced the pace of their share buybacks for the second quarter, but the others, Exxon, Shell, and TotalEnergies, maintained their guidance on repurchases despite the slump in oil prices at the start of the second quarter. All five Big Oil firms touted their shareholder distributions and resilience in the earnings releases and conference calls. Some fared…