Report: Big Oil making Big Big Money
The state-owned company Saudi Aramco posted a net profit of around $33 billion in the third quarter of 2023 alone.
According to Statista, on February 7, French energy company TotalEnergies announced an annual net profit of $21.4 billion for 2023, an even higher result than in the record-setting year prior.
This increase by 4 percent year-on-year comes despite falling oil and gas prices after the Russia-Ukraine war sparked a price hike for oil and gas in 2022. As the…