Oil companies dedicated to fuel manufacturing are managing to profit despite the crisis caused by Covid-19, unlike those focused on oil and natural gas exploration and production. This is due to the fall in the price of oil, the raw material of refineries, and also the devaluation of crude oil.
Among these companies are the American Marathon and Valero, which occupy the 5th and 8th place among the largest in the world, respectively. Marathon closed the second quarter with a profit of $276 million, while Valero made $1.2 billion, double the same-period gain in 2019. Another is Indiana's Relliance, the world's 20th largest, which posted a $35 million gain.ACESSE AS REDES DA PANORAMA OFFSHORE: