May 16, 2023 (Investorideas.com Newswire) According to TradingPlatforms.com, the big five oil companies earned a combined profit of $200 billion in 2022.
The site's Financial analyst Edith Reads comments, "Despite the global economic crisis in 2022, oil companies managed to pull through unscathed, earning more profits. Big oil companies are on a road to gain more profits as renewables are yet to secure standing in the global market."
ExxonMobil, the Texas-based company, earned $59.1 billion in profits, a significant rise from $ 23.04 billion in 2021. However, the oil company has faced criticism due to the rise in profits, with the White House calling it outrageous. Shell, a global energy giant, secured $39.9 billion in profit, coming in second after ExxonMobil. Chevron garnered $36.5B in profits from $15.6B in 2021, while Total Energies garnered $36.2 billion from $ 18.2 billion, and BP secured $27.7 billion from $12.8B. The full story and statistics can be found here: Big Oil Firms' 2022 Profits Hit an ATH of $200B
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