Oil & Gas Giants Cash in Tens of Billions

By Florian Zandt – Statista

On February 7, French energy company TotalEnergies announced an annual net profit of $21.4 billion for 2023, an even higher result than in the record-setting year prior. This increase by 4 percent year-on-year comes despite falling oil and gas prices after the Russia-Ukraine war sparked a price hike for oil and gas in 2022. As our chart shows, its financial performance helped TotalEnergies beat other major U.S. and European oil and gas companies.