A new international analysis reveals that the oil and gas industry is going through a period of exceptional earnings, fueled by geopolitical crises and rising energy prices, with direct effects on consumers worldwide.
The top 100 companies in the oil and gas industry recorded profits of over 30 million dollars per hour in the first month of the conflict in the Middle East, according to an analysis cited by the international press.
The abrupt increase in the price of oil, up to an average of 100 dollars per barrel, has generated additional earnings estimated at 23 billion dollars in a single month, writes the guardian.
If the current price level is maintained, the “exceptional” profit of the industry could reach approximately 234 billion dollars by the end of 2026.
Among the major beneficiaries are companies such as Saudi Aramco, Gazprom, ExxonMobil, and Shell, all reporting significantly higher earnings compared to periods before the crisis. Saudi Aramco alone is expected to achieve an additional profit estimated at over 25 billion dollars.
While energy companies are recording record financial results, consumers are directly feeling the effects of rising prices. Pump costs and energy bills have increased in numerous states, and some governments have been forced to reduce fuel taxes to limit the impact on the population.
Details, HERE