Revenues from oil and gas projects backed by European and U.S. companies financed Vladimir Putin’s regime to nearly USD 100 billion since 2014. Eight companies-BP, Shell, Wintershall Dea, ExxonMobil, TotalEnergies, Equinor, OMV, and Trafigura-have been responsible for over USD 95 billion to the Russian government via stakes in Russian oil and gas projects and companies. 2022 annual profits of five of the largest oil and gas companies: Chevron, ExxonMobil, Shell, BP and TotalEnergies, totaled $195 billion in 2022, nearly 120% more than the previous year–the highest level in the industry’s history.
The U.S. LNG industry has also exploited the war. In the first eleven months of last year, U.S. LNG exporters boosted shipments to Europe by more than 137%. Cheniere, the largest U.S. producer of LNG, saw its cash flow increase from $1.75 billion in 2021 to an estimated $6.53bn last year.
priceofoil.org/2023/02/24/first-anniversary-of-ukraine-war-is-a-grim-reminder-to-stop-dependence-on-unstable-and-war-driven-fossil-fuels/?akid=45100.40041.RDluOk&rd=1&t=1