A report by Global Witness says that five energy “superheavyweights” are “the main winners of the war”, while many people are making serious efforts to heat their homes, writes The Guardian.
The world’s five largest publicly traded oil companies made more than a quarter of a trillion dollars in profits after Russia’s invasion of Ukraine sent energy prices and domestic bills soaring.
The “super heavyweights” – BP, Shell, Chevron, ExxonMobil and TotalEnergies – have earned $281 billion since the start of the war in Ukraine, Global Witness reports.
BP and Shell made a combined profit of $94.2 billion, which Global Witness estimates is enough to cover all the electricity bills of UK households for 17 consecutive months.
The main European and American companies – Chevron, ExxonMobil and TotalEnergies – received a combined profit of more than 187 billion dollars.
“Russia’s invasion of Ukraine has been devastating for millions of people, from Ukrainians to households in Europe struggling to heat their homes,” said Patrick Gailey, Global Witness’ principal investigator.
Source: Hot News
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