Oil giants record $467bn in profits since Russia's invasion of Ukraine

Stuart Stone
clock • 4 min read
Credit: iStock
Image:

Credit: iStock

Shell, BP, Chevron, ExxonMobil, and TotalEnergies saw collective profits jump by 125 per cent following Russia's invasion, according to a new investigation from Global Witness

In the four years since Russia's invasion of Ukraine a handful of oil 'supermajors' have seen combined profits reach almost half a trillion US dollars, as gas prices spiked and profits more than doubled...

To continue reading this article...

Join BusinessGreen

In just a few clicks you can start your free BusinessGreen Lite membership for 12 months, providing you access to:

  • Three complimentary articles per month covering the latest real-time news, analysis, and opinion from Europe’s leading source of information on the Green economy and business
  • Receive important and breaking news stories via our daily news alert
  • Our weekly newsletter with the best of the week’s green business news and analysis

Join now

 

Already a BusinessGreen member?

Login

More on Energy

Fossil fuel importer, or electrostate? The choice is ours

Fossil fuel importer, or electrostate? The choice is ours

If the UK seizes the moment it can build an energy system that powers a more competitive, more secure, and more prosperous Britain, writes Laura Sandys

Laura Sandys
clock 12 May 2026 • 5 min read
E.ON strikes deal to snap up OVO's UK retail business

E.ON strikes deal to snap up OVO's UK retail business

Combined firms set to become UK's largest retail energy supplier and ramp up efforts to deliver flexible grid services and domestic clean technologies

Michael Holder
clock 11 May 2026 • 5 min read
Why do we ignore obvious energy security solutions?

Why do we ignore obvious energy security solutions?

Even in the midst of a severe global fossil fuel energy crisis, energy efficiency measures - supported by electrification and digital technologies - are still too often overlooked, writes Nicola Cullen from the Climate Group

Nicola Cullen, Climate Group
clock 07 May 2026 • 4 min read