Press Releases & News

Exxon and Chevron Report Lower Profits While Girding for Tariffs

Written by Maine Pointe | May 2, 2025 8:30:00 AM

The two largest U.S. oil companies reported their lowest first-quarter profits in years as they braced for the economic fallout from President Trump’s trade war. Joseph Esteves, Maine Pointe's Chief Executive Officer, said many companies are cutting costs where they can as they wait for greater clarity on U.S. trade policy. (Sheehan Gallagher, Maine Pointe Managing Director and Head of Natural Resources-Energy, was also interviewed for the article).