Exxon 2022 Profit Hits Historic High for Western Oil Industry
02.05.2023 By TankTerminals.com - NEWS

February 5, 2022 [SupplyChainBrain] – Exxon Mobil posted a $56 billion profit for 2022, the company said on January 31, meaning it made about $6.3m an hour last year, and setting not only a company record but a historic high for the western oil industry, says The Guardian.

 

Oil majors are expected to break their own annual records on high prices and soaring demand, pushing their combined take to near $200 billion. The scale has renewed criticism of the oil industry, and sparked calls for more countries to levy windfall profit taxes on the companies.

Exxon said it incurred a $1.3 billion hit to its fourth-quarter earnings from a EU windfall tax that began in the final quarter and from asset impairments. The company is suing the EU, arguing that the levy exceeds its legal authority.

Excluding charges, profit for the full year was $59.1 billion. Production was up by about 100,000 barrels of oil and gas a day over a year ago to 3.8 million barrels a day.

Pro Trial: Access 11,340 Tank Terminal and Production Facilities

11,340 tank storage and production facilities as per the date of this article. Click on the button and register to get instant access to actionable tank storage industry data

TRA Probes HVO Biodiesel Imports from the US into UK
03.19.2025 - NEWS
March 19, 2025 [SAF Investor]- The Trade Remedies Authority (TRA) has initiated an anti-dumping i... Read More
High Operating Costs Leave Europe’s Floating LNG Terminals Idle
03.19.2025 - NEWS
March 19, 2025 [Oil Price]- Despite high natural gas prices and increased LNG demand in Europe af... Read More
TotalEnergies and RWE Join Forces on Green Hydrogen to Decarbonise the Leuna Refinery
03.19.2025 - NEWS
March 19, 2025 [Storage Terminals Magazine]- TotalEnergies has signed an agreement with German de... Read More
Balmoral Tanks and Global Tank Group A/S Announce European Market Partnership
03.19.2025 - NEWS
March 19, 2025 [Storage Terminals Magazine]- Global Tank Group A/S and Balmoral Tanks have announ... Read More