Oil companies report record profits in 2022

The international oil and energy giants published their 2022 balance sheets. The companies posted record profits. In addition to the Russia-Ukraine war, the effect of the economic recovery after the epidemic was also effective in increasing prices and profits.

The announced record profits increased pressure from governments for their companies to pay more taxes. While White House representatives called for US companies to tax their record profits, the opposition in England said Shell should be taxed more.

The profits of the companies were as follows:

exon

Exxon Mobil announced a net profit of $56 billion for 2022. This figure meant that the company earned around $6.3 million per hour. The company also set an industry record with its earnings.

The figure announced by Exxon surpassed the earnings of 2008, when oil reached 142 dollars per barrel. The company had a net profit of $45.2 billion at the time. Although Exxon’s $12.75 billion profit in the fourth quarter was strong, it fell from $19.7 billion in the third quarter.

CHEVRON

US-based energy company Chevron also reported a record profit of $36 billion. The company, which is the second-largest US oil company, surpassed the record it set in 2011 by about $10 billion in 2022 net profit.

The company posted a net profit of $7.9 billion in the most recent quarter, reporting earnings below analysts’ forecasts.

SHELL

British oil and gas giant Shell also reported record annual profits in 2022. The company’s profit reached $39.9 billion in 2022, doubling profits from the previous year. Thus, the group reported the highest profit in its 115-year history.

Shell reported a profit of 9.8 billion dollars in the last quarter of the year. 40 percent of the profits came from the integrated gas business, which includes the sale of liquefied natural gas.

PA

BP doubled its profits in 2022 from the previous year. The company achieved nearly $28 billion in annual profit, the highest in its 114-year history. BP announced plans to increase spending and shareholder returns.

The group had previously set a record profit of $26.3 billion in 2088. Profits in 2022 dwarfed those of 2008. The company’s latest quarter profit, on the other hand, was below estimates, hitting $4.8 thousand. millions.