Financial Review: First-Quarter 2022
Release date: July 7, 2022
Next release date: September 2022
Key findings
- Brent crude oil daily average prices were 60% higher in 1Q22 than in 1Q21 and averaged $98 per barrel.
- In this study of 90 companies, the combined petroleum liquids production level increased less than 1% in 1Q22 from 1Q21, and natural gas production increased 3% during the same period.
- Distributions to shareholders via dividends and share repurchases reached $32 billion on a four-quarter average basis ending in 1Q22, the highest in the 2017–22 period.
- Net losses from hedging derivatives were $25 billion in 1Q22, the largest loss for any quarter in the 2017–22 period.
