After rebounding from the massive demand shock triggered by Covid-19, the revenues of the world's top 10 publicly traded, oil-producing companies increased by nearly 46% in the first half of 2021, according to data compiled by Anadolu Agency from their financial results on Monday, Report informs.
Collective revenues of the big oil companies – "bp", "Chevron", "Eni", "Equinor", "ExxonMobil", "Lukoil", "Rosneft", "Royal Dutch Shell", "Saudi Aramco" and "TotalEnergies" - have exceeded $825 billion during the January-June period of 2021, while they recorded only $566 billion in the same period of last year.
Saudi Aramco, Chevron, Equinor, and Lukoil were the companies whose revenues increased the most during this period. Aramco increased its revenue by 66.8%, Chevron by 54.7%, Equinor by 54.2%, and Lukoil by 53.8% during the first six months of the year.
Shell, however, recorded the lowest year-over-year revenue growth at 29.4%.
When all companies incurred huge losses last year due to the pandemic, Aramco was the only one that announced a profit in the first half of the year. The company declared a $45 billion year-over-year gain, increasing its profit by $21 billion, or 90.7%, in the first half of 2021.