Each of the world’s biggest oil and gas majors reported record profits for 2022 in the past week, doubling their combined net earnings from 2021 and booking the best-ever year for Big Oil. Combined, the net profits of Exxon, Chevron, BP, Shell, Equinor, and TotalEnergies surged to $219 billion for 2022, up from around $100 billion booked for 2021, as oil and gas prices surged following the Russian invasion of Ukraine and majors raised oil and gas production to meet growing demand for oil and limited gas supply from Russia to Europe.
…Big Oil Smashes Earnings Record With $219 Billion In Profits
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