Exclusive: oil companies’ profits soared to $174bn this year as US gas prices rose
by Oliver Milman from US news | The Guardian on (#5SQDB)
Exxon, Chevron, Shell and BP among group of 24 who resisted calls to increase production but doled out shareholder dividends
The largest oil and gas companies made a combined $174bn in profits in the first nine months of the year as gasoline prices climbed in the US, according to a new report.
The bumper profit totals, provided exclusively to the Guardian, show that in the third quarter of 2021 alone, 24 top oil and gas companies made more than $74bn in net income. From January to September, the net income of the group, which includes Exxon, Chevron, Shell and BP, was $174bn.
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