TotalEnergies, Repsol and Shell - Europe's big energy companies are raking in billions in profits thanks to high gas and oil prices.
Shell - the British energy giant posted an adjusted profit of $11.5 billion for the second quarter, which is more than twice than in the previous year's quarter. The Group was able to offset lower earnings from LNG trading robust refining margins as well as better results in power trading. Shell earned $18 billion thanks to higher oil and gasoline prices, quintupling the previous year's figures.
Shareholders of the big European Oil Companies are to benefit from the billions of profit they make.
The Spanish oil company Repsol, in turn, more than doubled its profit year-on-year to 2.54 billion euros. Repsol was able to offest the losses they suffered during the Corona crisis with the excelllent results from the first-half year of 2022.
Spain's Repsol double year-on-year profits
The Spanish oil company Repsol, in turn, more than doubled its profit year-on-year to 2.54 billion euros. Repsol was able to offest the losses they suffered during the Corona crisis with the excelllent results from the first-half year of 2022.
(#oilcompanyprofits #shell #totalenergies #repsol #billionsinprofits) TotalEnergies - the French group has almost tripled its profits to 5.7 billion euros and increased its interim dividend by five percent year-on-year to 0.69 euros per share. The group has announced a share buyback worth up to two billion dollars for the third quarter.
Shell also announced a share buyback program worth six billion dollars for the current quarter. In the first half of the year, shares worth 8.5 billion dollars were already bought back.
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