Refining won't save oilers: EIA

WHILE super-majors' profit drops have been buffered by their refining margins amid low oil prices, first quarter figures reveal they have been unable to fully offset low upstream earnings, the US Energy Information Administration says.

Refining won't save oilers: EIA Refining won't save oilers: EIA Refining won't save oilers: EIA Refining won't save oilers: EIA Refining won't save oilers: EIA

First-quarter profits of ExxonMobil, for example, dropped less than expected as margins at the refining unit of the world's largest publicly traded oil company surged on tumbling crude prices.

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