US EIA analyses 1Q2015 company results

First-quarter 2015 financial results for globally integrated oil companies show that total earnings were $22bn (54%) lower than in 1Q2014, according to the latest figures from the US Energy Information Adminstration (EIA). Lower crude oil prices contributed to a decline in profits in the upstream sector of $28bn (80%) compared to 1Q2014. Profits in the downstream sector, however, were the largest for any quarter since 3Q2012, almost $6bn (95%) higher than in 1Q2014, which offset some of the decline from the upstream segment.