Exxon smashes Western oil majors' earnings record with $56 billion profit for 2022

Exxon smashes Western oil majors' earnings record with $56 billion profit for 2022

Exxon Mobil Corp posted a $56 billion profit for 2022, the company said on Tuesday, taking home about $6.3 million per hour last year, and setting not only a company record but a historic high for the Western oil industry.

Oil majors are expected to break their own annual records on high prices and soaring demand, pushing their combined take to near $200 billion. The scale has renewed criticism of the oil industry and sparked calls for more countries to levy windfall profit taxes on the companies.

Exxon's results far exceeded the then-record $45.2 billion net profit it reported in 2008, when oil hit $142 per barrel, 30% above last year's average price. Deep cost cuts during the pandemic helped supercharge last year's earnings.

READ MORE: https://finance.yahoo.com/news/exxon-smashes-western-oil-majors-113239797.html

Links for B.C.

Visit My Website
https://bcbegley.com

Subscribe To My Patreon
https://www.patreon.com/bcbegley

Watch Me On YouTube
https://www.youtube.com/channel/UCGoU...

Follow Me On Twitter
https://twitter.com/BC_News1

Watch Me On Rumble
https://rumble.com/c/c-280191

Follow Me On Gab
https://gab.com/BC_Begley

Follow Me On Parler
https://parler.com/profile/Bcbegley20...

Watch Me On BitChute
https://www.bitchute.com/channel/FYML...

Subscribe To The Apocalypse Watch App
https://newapocalypsewatch.com