After BP's (LON:BP.) results on Tuesday, which took the market by surprise, traders will undoubtedly be anxious about Shell's (LON:RDSB) figures on Thursday at a time when the oil market is in utter turmoil.
BP reported a 51% fall in annual profit for 2015 but kept its dividend unchanged at 10 cents a share amid the 70% slump in crude prices over the past year.
The group made an annual loss of US$5.2bn against profits of US$8.2bn a year ago - the worst performance for two decades.
Peer Shell has already flagged up that full year net profits will be between US$10.4bn and US$10.7bn - below a company-provided consensus of US$10.8bn.
It has also predicted more cost cuts this year including 10,000 job losses.
And earlier this month, Shell shareholders backed its controversial £35.6bn merger with gas explorer and producer BG Group (LON:BG.) so that particular issue is unlikely to throw up surprises tomorrow, though traders may well be looking out for further commentary.
Notably though, Standard Life Investments was one of the prominent shareholders to vote against, saying it believed the deal was no longer viable in the light of falling oil price.
Swiss broker UBS has said Thursday’s results statement was probably too early for a grandiose statement of what the “new Shell” will look like, and expects a capital markets day “launch” of the combined Royal Dutch Shell and BG in June.
“We believe the quality of the asset base is clear. Shell now has the opportunity to fundamentally re-set strategy and the operating model of the firm,” the broker said.
Deutsche Bank said earlier this month: "Overall, financial performance is, however, expected to show the ravages of the commodity environment with net income of $54m (cons $154m) sUBStantially down on the $983m achieved in Q4 2014."
Indeed, it's not a great time for big oilers.
Yesterday, giant New York listed Exxon Mobil revealed, like BP, its profits had also more than halved in the three months to the end of December and in annual profits.
Exxon Mobil's results come after rivals Chevron and BP both reported large losses for the fourth quarter.
Oil prices fell sharply on Tuesday, with Brent crude down 5.3% to $32.42.
Crude oil prices have dropped about 70% from the 2014 high of more than $100 a barrel.
Significant statements expected -
Finals: AstraZeneca (LON:AZN), Primary Health Properties (LON:PHP), Royal Dutch Shell (LON:RDSA), Smith & Nephew (LON:SN.)
Interims: Avanti Communications Group (LON:AVN)
Trading statements: Bellway (LON:BWYA), Compass Group (LON:CPG), 04/02/2016 Great Portland Estates (LON:GPO), Vodafone Group (LON:VOD).