Major oil and gas players bring in $199 billion in 2022, expect stall in growth in 2023
Major oil and gas players bring in $199 billion in 2022, expect stall in growth in 2023
Exxon Mobil Corp., Chevron Corp., Shell Plc, TotalEnergies SE and BP Plc reaped almost $200 billion collectively last year. However, fears of an economic slowdown, plunging natural gas prices, cost inflation and uncertainty over China’s re-opening are dimming the outlook for 2023.
Record-setting profit year in 2022
The five companies are expected to report $198.7 billion in combined 2...