Oil Majors Reap Bumper Profits as Mideast War Drives Prices
10 Articles
10 Articles
Oil majors reap bumper profits as Mideast war drives prices
Britain's Shell said profit after tax more than doubled year-on-year to $12.1 billion in the third quarter. France's TotalEnergies net profit hit a new record of $8.3 billion in the July-September period. Rising fossil fuel prices also saw Spanish oil group Repsol quadruple its net profit over the first nine months of the year, to 5 billion euros ($5.6 billion). Energy majors are reaping bumper profits from disruptions to oil and gas supplies in…
Shell, TotalEnergies, Repsol: oil companies are posting exceptionally high profits thanks to the surge in hydrocarbons in the wake of the wars in the Middle East and Ukraine, generating new criticisms about their “superprofits”.
They benefit from the conflicts in the Middle East: the oil companies Shell and TotalEnergies were able to double their quarterly profits to billions.
European oil companies benefit from the high prices of crude oil due to the Iran war. Shell in the UK, TotalEnergies in France and Repsol in Spain reported billions of dollars in the third quarter on Thursday. German Greens and Left politicians therefore confirmed their claim for an over-profit tax.Shell reported a profit of $12.1 billion (EUR 10.9 billion) from July to September, more than twice as much as in the previous quarter. Repsol five-f…
Driven by the surge in energy prices and record refining margins, the group is showing results that have never been so good Just like its French counterpart, the British giant
The high prices of crude oil as a result of the Iran war generate profits for European oil companies. Shell and TotalEnergies report billions of profits in the third quarter.
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