The recent outperformance of the integrated oil sector has been quite amazing. It is one of the best performing sectors year-to-date.
The past five years have been disappointing for investors, as the sector underperformed due to weak growth, Return On Capital Employed falling from 28% in 2007 to 13% in 2013 and various mega project delays. Focusing back on profitability and sustainable growth is part of the re-rating process. Continue reading The Return Of Big Oil (CNBC Interview)