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 Oil profits soar infographic
Graphic shows Q2 2022 profits of the major oil companies
GN43419EN

ENERGY

Oil profits soar

By Phil Bainbridge

November 2, 2022 - Despite recent price falls, the profits of major oil companies continue to soar while high fuel costs drive inflation and a cost of living crisis.

Saudi Aramco has reported its second highest profits since floating on the stock market in 2019, while BP announced its Q3 profits have doubled. There are calls from across the political spectrum to extract some of these profits in a windfall tax to ease the burden on ordinary households.

Meanwhile, Gazprom has seen revenue double – despite a 43% fall in shipments to Europe due to the war in Ukraine – by more than tripling gas export prices.

Sources
PUBLISHED: 02/11/2022; STORY: Graphic News
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