Exxon, Chevron Reap $31 Billion Profit From Energy Crunch
- Exxon posts strongest quarterly result in its 152-year history
- Chevron reports its second-largest profit on natural gas rally
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Exxon Mobil Corp. and Chevron Corp. amassed more than $30 billion in combined net income as politicians blast Big Oil for raking in massive profits at a time when consumers are struggling with soaring inflation and energy shortages worldwide.
Exxon posted the highest profit in its 152-year history, while Chevron announced its second-best quarterly result as natural gas demand and prices surged. Those earnings follow strong results posted by European peers Shell Plc and TotalEnergies SE earlier this week.