New Energy Companies Post Mixed Earnings Despite Pivot To Renewables ...Middle East

Oil and gas companies have been shooting the lights out this earnings season, with the energy sector recording the highest growth of any of the U.S.' 11 sectors. The sector has so far reported Q2 revenue growth of 112.8% Y/Y, more than three times the growth clip by the second-placed Materials sector. Big Oil has been particularly impressive, with ExxonMobil (NYSE:XOM), Chevron (NYSE:CVX), Shell (NYSE:RDS.A) and TotalEnergies (NYSE:TTE) all swinging to large profits after a dismal showing a year ago. Unfortunately, the same cannot be said about…

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