How energy company profits have risen year-on-year

Many companies have seen profits more than double.

Examples of how profits at some of the largest energy companies rose in 2022 (Jane Barlow/PA) (PA Wire)

Energy giants have so far notched up mammoth earnings of more than 200 billion US dollars (£166 billion) between them for 2022 after a year of sky-high oil and gas prices.

Centrica has joined UK-listed oil firms BP and Shell in revealing record hauls, with their counterparts worldwide also benefiting from rocketing commodity prices in the wake of Russia’s war in Ukraine.

Here are examples of how profits at some of the largest energy companies rose in 2022 compared with 2021.

All figures are given in US dollars first, then pounds sterling, along with details of the type of profit reported.

– Centrica (underlying operating profits)2021 0.9bn dollars (£0.9bn)2022 4.0bn dollars (£3.3bn)

– Equinor (net profit)2021 8.6bn dollars (£7.1bn)2022 28.7bn dollars (£23.8bn)

– BP (underlying replacement cost profits)2021 12.8bn dollars (£10.6bn)2022 27.7bn dollars (£23.0bn)

– TotalEnergies (adjusted net income)2021 18.1bn dollars (£15.0bn)2022 36.2bn dollars (£30.1bn)

– Chevron (adjusted net profit)2021 15.6bn dollars (£13.0bn)2022 36.5bn dollars (£30.3bn)

– Shell (adjusted earnings)2021 19.3bn dollars (£16.0bn)2022 39.9bn dollars (£33.1bn)

– Exxon Mobil (net income)2021 23.0bn dollars (£19.1bn)2022 55.7bn dollars (£46.2bn)