The five largest petroleum groups – the French company, Exxonmobil, Chevron, BP and Shell – combine $ 153.5 billion in profit. These stratospheric figures will not fail to relaunch the debate on redistribution and the use of these riches.
by Adrien Pécout
As long as oil majors earn money with their hydrocarbons, they continue to bet on it. After historical losses in 2020 -because of the COVVI -19 pandemic -, the five largest companies are now displayed just as unpublished for the year 2022: 153.5 billion dollars in net profit (143.1 billions of euros)-and even flirting with the $ 200 billion in adjusted net profit, that is to say excluding provisions and exceptional elements. Strong demand had already increased the prices of gas and petroleum, then the war in Ukraine exacerbated them again.
From its Defense headquarters in Hauts-de-Seine on Wednesday, February 8, the Totalnergies group announced a profit of $ 20.5 billion, or about 19.1 billion euros. This figure marks an increase of 28 % compared to the previous year. Another very followed indicator, the adjusted net result amounts to $ 36.2 billion, double compared to 2021. By definition, it does not take into account exceptional events, here the loss of loss linked to the participation of The company in Russia.
These megaprofits will not fail to relaunch the national debate on the redistribution and the use of these wealth. Investments for climate, employee remuneration, shareholders’ compensation, compensation for consumers assigned by the price increase to the pump … The range of possibilities is infinite.
A global debate, in reality in view of the stratospheric results of other world oil giants: $ 59.1 billion adjusted result (+ 157 %) for the American Exxonmobil; 36.5 billion (+ 134 %) for his compatriot Chevron; 27.7 billion (+ 116 %) for the British BP… despite a net loss of 2.5 billion, linked to the Russian context; 39.9 billion (+ 107 %) for the Anglo-British Shell. Not to mention the Equinor company, outside this club of five: the company under the control of the Norwegian state was to present its annual results Wednesday, February 8, afternoon, after having displayed an adjusted net profit of 59.9 billion Dollars at the end… of the first nine months of the year 2022.
to be “on the right side of the story”
The overwhelming majority of their profits, these companies always draw it from oil and gas. In 2021, for example, petroleum products and natural gas represented 44 % and 48 % of totalnergies sales respectively. It is also the sector in which they continue to invest the most. First to maintain their capacities. Then to develop others, despite the recommendation, formulated by the International Energy Agency (AIE), to avoid any investment in new installations related to these two fossil fuels – two energies among the main responsible for disruption climatic, behind the coal.
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