echemi logo
Product
  • Product
  • Supplier
  • Inquiry
    Home > Chemicals Industry > Petrochemical News > European and American oil giants make huge profits under the energy crisis, and the UN Secretary-General criticizes them by name as "immoral"

    European and American oil giants make huge profits under the energy crisis, and the UN Secretary-General criticizes them by name as "immoral"

    • Last Update: 2023-02-05
    • Source: Internet
    • Author: User
    Search more information of high quality chemicals, good prices and reliable suppliers, visit www.echemi.com

    Japan's "Asahi Shimbun" reported on August 4 that in the absence of a significant increase in production by "OPEC+", benefiting from high oil prices, European and American oil giants have made a lot of
    money.

    The report pointed out that the big oil companies have achieved good results
    .
    BP released its financial report for the second quarter of 2022 on the 2nd, showing that its net profit was about three times that of the same period last year, reaching $9.
    3 billion
    .

    Britain's Shell reported a net profit of $18 billion in the second quarter, 5.
    3 times
    the same period last year.
    U.
    S.
    oil giant ExxonMobil Co.
    reported a net profit of $17.
    8 billion in the second quarter, 3.
    8 times
    the same period last year.
    U.
    S.
    Chevron's net profit in the second quarter reached $11.
    6 billion, also 3.
    8 times
    the same period last year.

    According to the report's analysis, the reason for the increase in profits of these companies is the rise
    in the price of energy sources such as crude oil.
    The "US WTI crude oil" futures price as an indicator of oil prices was still around
    $60 / barrel a year ago.
    After the outbreak of the Russian-Ukrainian conflict in February this year, WTI crude oil futures exceeded $100 / barrel, and even reached about $100 to $120 in
    the second quarter.
    High oil prices have become the main reason for
    the rise in prices in various countries.

    United Nations Secretary-General Guterres called on governments to tax large oil and gas companies that make huge profits from the current energy crisis on the 3rd local time and use the money to help the
    poor.

    According to the Australian Special Broadcasting Service (SBS) website, Guterres said in a speech at the United Nations headquarters in New York on the same day that the overall profit of the world's largest energy company in the first quarter of 2022 was nearly $100 billion
    .

    In his speech, Guterres singled out oil companies such as ExxonMobil and Chevron in the United States, Shell Group, headquartered in London, England, and Total Energies in France
    .

    "It is unethical for oil and gas companies to make record profits from this energy crisis while saddling the poorest people and communities with huge climate costs
    ," he said.
    This absurd greed is punishing the poorest and most vulnerable, while destroying our only common home, the planet
    .

    This article is an English version of an article which is originally in the Chinese language on echemi.com and is provided for information purposes only. This website makes no representation or warranty of any kind, either expressed or implied, as to the accuracy, completeness ownership or reliability of the article or any translations thereof. If you have any concerns or complaints relating to the article, please send an email, providing a detailed description of the concern or complaint, to service@echemi.com. A staff member will contact you within 5 working days. Once verified, infringing content will be removed immediately.

    Contact Us

    The source of this page with content of products and services is from Internet, which doesn't represent ECHEMI's opinion. If you have any queries, please write to service@echemi.com. It will be replied within 5 days.

    Moreover, if you find any instances of plagiarism from the page, please send email to service@echemi.com with relevant evidence.