The West’s five largest oil companies raked in combined profits of nearly $200 billion in 2022, intensifying calls for governments to impose tougher windfall taxes.
French oil giant TotalEnergies on Wednesday reported full-year profit of $36.2 billion, doubling last year’s total, as fossil fuel prices soared following Russia’s full-scale invasion of Ukraine.
The results see TotalEnergies join supermajors Exxon Mobil, Chevron, BP and Shell in recording a massive upswing in annual profits, after Exxon’s 2022 haul of $56 billion marked a historic high for the Western oil industry.
Altogether, the five Big Oil companies reported combined profits of $196.3 billion last year, more than the economic output of most countries.
#bigoilcompanies #exxonmobil #shell #chevron #BritishPetroleum #totalenergies #cnbctv18 #businessnews #businessnewstoday #businessnewsinenglish #sharemarkettoday
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