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

Global Briefing: China ramps up renewables goals in new five-year plans

Global Briefing: China ramps up renewables goals in new five-year plans

Plus, steep decline in rainforest burning in Brazil's Amazon, the EV charging rollout is going steady in Europe, and bio-based chemicals plant plans are unveiled in Portugal

Michael Holder
clock 24 July 2026 • 8 min read
IEA: CO2 from global power generation to rise one per cent in 2026

IEA: CO2 from global power generation to rise one per cent in 2026

Agency forecasts surging electricity demand from AI data centres, air conditioning, and clean tech means emissions are likely to tick up again this year

Michael Holder
clock 24 July 2026 • 5 min read
New Northamptonshire biomethane plant to supply enough renewable gas to heat 5,000 homes

New Northamptonshire biomethane plant to supply enough renewable gas to heat 5,000 homes

Vida Bioenergy Wormslade plant is expected to produce 68GWh of biomethane annually

clock 23 July 2026 • 1 min read