Go look at the income statements for big oil companies like ExxonMobil (NYSE:XOM) and Royal Dutch Shell (NYSE:RDS-A)(NYSE:RDS-B). Do you notice anything in particular? Despite being integrated oil and gas companies with both upstream and downstream operations, almost all of these companies derive more than three-fourths of their earnings from the oil and gas production side of the business. Well, based on some of the plans these companies have coming up, that may change pretty soon. 

These two companies as well as Chevron (NYSE:CVX) are looking to make big investments in the refining and chemicals segments of their businesses over the next couple of years. Why are they doing this? Tune into the video below to find out what trends are causing this shift and what major projects they are considering. 

 

Fool contributor Tyler Crowe has no position in any stocks mentioned. You can follow him on Twitter @TylerCroweFool. 

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