Oil and gas majors are likely to report bumper second-quarter earnings in the coming days, energy analysts have told CNBC, following a brutal 12 months by virtually every measure. The expected upswing would build on a surprisingly strong showing in the first quarter and lend further support to the oil and gas industry’s efforts to pay down debt and reward investors. “Big Oil” companies, referring to the world’s largest oil and gas majors, still face significant challenges and uncertainties, however. These include the remarkable success of shareholder activism in recent months, a “tremendous degree” of ongoing ... (full story)