ExxonMobil and other major oil and gas companies are poised to report record annual profits, raking in extraordinary revenues following a year of volatile fossil fuel prices, CNBC reported yesterday.
Oil majors Exxon Mobil, Chevron, BP, Shell and TotalEnergies are expected to report a combined profit of US$190 billion for 2022 when their final quarterly results are released in the coming days, according to estimates from analysts collated by Refinitiv.
Brimming with cash, the energy giants are expected to use their windfall profits to reward shareholders with higher dividends and share buybacks, CNBC said.
