Energy companies in Europe are benefiting from the high oil and gas prices resulting from the war in Ukraine.
The British energy company Shell, for example, increased its profit fivefold to 18 billion US dollars in the second quarter. The French company TotalEnergies doubled its profit, as did the Spanish oil company Repsol. A TotalEnergies spokesman said the group produced more, contributing to energy security. Repsol stressed that the good results in the first half of the year helped offset the losses suffered in the Corona crisis.
In Germany, energy company RWE sharply revised upward its forecast for the current fiscal year – the company now expects earnings before interest, taxes, depreciation and amortization of up to 5.5 billion euros, instead of the previous figure of around four billion euros.
This news was broadcast on 28.07.2022 in the program Deutschlandfunk.
the source used in preparing the news: https://www.deutschlandfunk.de
