Oil companies’ profits soared to $174bn this year as US gas prices rose

Posted on AllSides December 6th, 2021
From The Left
Photograph: John Angelillo/UPI/Rex/Shutterstock

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.

Exxon alone posted a net income of $6.75bn in the...

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https://www.theguardian.com/business/2021/dec/06/oil-companies-profits-exxon-chevron-shell-exclusive

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