Aggregate net income for publicly listed oil and gas companies operating in the United States exceeded $200 billion for the second and third quarters of the year, according to analysis of earnings reports and estimates carried out by S&P Global Commodity Insights for the Financial Times.
The media outlet reported over the weekend, citing the analysis, that US oil producers have cashed in on a period of geopolitical turmoil due to the conflict in Ukraine that has shaken up the global energy market and sent prices skyrocketing. The $200 billion figure, which included supermajors, mid-sized integrated groups and smaller independent shale operators, marks the sector’s “most profitable six months on record and puts it on course for an unprecedented year,” it wrote.
“Operating cash flow will likely be record-breaking – or at least very close to it – by year’s end,” executive director for upstream equity research at S&P, Hassan Eltorie, told the FT.
The report also noted that last week US President Joe Biden dubbed the outsized earnings a “windfall of war” and accused companies of “profiteering” from the conflict. Biden threatened to ask Congress to hit producers with higher taxes unless they invested the cash haul into pumping more oil to bring down prices at the pump.
Are you seeking to create an ambiance that speaks volumes about your desires and aspirations?…
The man who critically injured Slovak Prime Minister Robert Fico on Wednesday was a fierce…
The Asia-Pacific region should be free of military blocs because of their potential to undermine…
Russian President Vladimir Putin was welcomed with an honor guard after his plane touched down…
Russian President Vladimir Putin has set the stage for his state visit to China by…
С каждым днем онлайн-казино становятся все более популярными среди азартных игроков. И это вполне логично:…