Exxon Mobil Corp., Chevron Corp., Shell Plc, TotalEnergies SE and BP Plc reaped almost $200 billion collectively last year but fears of an economic slowdown, plunging natural gas prices, cost inflation and uncertainty over China’s re-opening are dimming the outlook for 2023.
The five companies are expected to report $198.7 billion in combined 2022 profit in coming days, 50% higher than the previous annual record set more than a decade ago, according to data compiled by Bloomberg.
