Oil and gas multinationals experience a significant decline in their profits during the first half of the year, as a result of the fall in fuel prices, after an exceptional 2022. However, these companies continue to be profitable.
On Tuesday, the British company BP confirmed this scenario by announcing that its net profit for the second quarter reached 1.8 billion dollars, which represents only a fifth of the results obtained during the same period last year.
For its part, the American ExxonMobil had already revealed that its net profits in the same period fell by 56 %, remaining at 7.9 billion dollars. In addition, its compatriot Chevron also experienced a fall, with profits of 6,000 million dollars, about half of what was obtained in the second quarter of 2022.
British giant Shell was not far behind, as its net profit fell 64 % year-on-year to $3.1bn.
However, the French company TotalEnergies managed to buck this trend a little better, posting profits of $4.1bn, albeit down 28 % compared to the previous year.
K. Tovar
Source: Bancaynegocios
(Reference image source: Zbynek Burival, Unsplash)
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