The largest energy companies in the world post record earnings in the third quarter. Energy giants, including European ones, have made good money from sales to the EU, which is actively buying oil and gas from alternative sources, plunging deeper into the energy crisis.
In the third quarter, US Exxon Mobil and Chevron had a combined net profit of approximately $ 30 billion, Dutch-British Shell had $ 9.5 billion and France’s TotalEnergies had $ 6.6 billion.
“Exxon has recorded the largest profit in all 152 years of its existence. The annual forecast is $ 50 billion, more than Amazon, Procter & Gamble and Tesla will earn together. Writes the Bloomberg reporter Stephen Stapzynski.
Most of the profits came from gas and LNG sales, mainly in Europe. Therefore, more than half of TotalEnergies’ profits were received in the direction of “Gas, Renewable Energy and Generation”. By 2020, the French company has accumulated contracts for the supply of LNG for 55 billion cubic meters per year, of which at least 12 billion from the United States. And this year it sold its volumes well in Europe.
The lion’s share of the energy giants’ profits will go to shareholder dividends. As the head of Exxon Mobil said, this is the very direct return of funds to the American people. With which neither Washington nor the European capitals will agree.
Joe Biden has already criticized the policy of energy companies, stating that the funds should be directed towards increasing production in order to reduce energy prices.
If the US authorities do not consider additional taxes for the energy giants, the European Union plans to limit excess profits so that governments can direct the proceeds to support consumers.
