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Exxon Mobil, Chevron reap over $31 billion profit from energy crunch

Exxon's stock rose 2.6 per cent at 9:33 am in New York. Chevron advanced 2.7 per cent

Exxon Mobil, Chevron reap over $31 billion profit from energy crunch
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Exxon posted the highest profit in its 152-year history, while Chevron announced its second-best quarterly result as natural gas demand and prices surged

Kevin Crowley | Bloomberg
Exxon Mobil Corp. and Chevron Corp. amassed more than $30 billion in combined net income as politicians blast Big Oil for raking in massive profits at a time when consumers are struggling with soaring inflation and energy shortages worldwide.
 
Exxon posted the highest profit in its 152-year history, while Chevron announced its second-best quarterly result as natural gas demand and prices surged. Those earnings follow strong results posted by European peers Shell Plc and TotalEnergies SE earlier this week.
 
Even as the supermajors bask in profits unimagined just two years ago during the darkest days of the pandemic, oil executives

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First Published: Oct 28 2022 | 9:54 PM IST

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