Why, Energy Crisis? Shell Makes Record Profit of 11 Billion Euros, TotalEnergies Doubles Profit
While millions of people worldwide are moaning under high energy prices, major oil and gas producers such as the British Shell, the French TotalEnergies, and the American ExxonMobil are making billions in profits.
Oil and gas giants Shell and TotalEnergies benefited in the second quarter from the high energy and fuel prices caused by the war in Ukraine. As a result, shell made a profit of approximately 11.3 billion euros in the last quarter – between April and June. That was another 26 percent more than the previous record… set in the previous quarter, between January and March. As a result, 7.7 billion euros will be distributed to shareholders.
France's TotalEnergies, on the other hand, tripled its profit to 5.6 billion euros, and the American ExxonMobil already indicated that t...