By Haris Fludopoulos
As economies, businesses and households measure their wounds from the effects of the energy crisis and the explosive increase in energy prices, financial results announced by major energy companies show explosive growth in revenues.
Thus, the major international energy companies are emerging as the big winners of the energy crisis, as in some cases they even tripled their revenues in the midst of the severe energy crisis.
For example, ExxonMobil from net income of 4.69 billion dollars in the second quarter of 2021, this year in the same period recorded net income of 17.850 billion dollars (an increase of 280%). That is, this year it improved its revenue in one quarter by 13.16 billion dollars. Half-yearly, the company reported revenue of $23.33 billion compared to revenue of $7.42 billion last year.
Chevron in the same period reported revenue of $11.6 billion versus revenue of $3.1 billion last year in the second quarter. For the first half of this year, revenues amounted to $17.881 billion compared to $4.459 billion last year.
Shell, for its part, reported revenue of $11.5 billion compared to revenue of $5.5 billion last year in the second quarter.
BP reported revenue of $9.3 billion for the second quarter of the year compared to $3.1 billion in the same period last year.
France’s Total announced revenue of $5.7 billion, up from $3.1 billion in the second quarter of 2021. In the first half, the company reported revenue of $10.6 billion, up 92% from last year.
Finally, Spain’s Repsol announced revenues of $1.2 billion compared to $0.7 billion in the second quarter of 2021. For the six-month period, the company’s revenues reached $2.539 billion, up 106% compared to $1.235 billion. of the first half of 2021.
The Big 5 alone reported revenue of $57.2 billion in the second quarter of the year, compared to revenue of $20.6 billion in the same period last year. The increase in revenue of energy companies in the midst of the energy crisis is approaching 180%.
Source: Capital
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