TotalEnergies generated in 2022 the largest profit in its history: more than 20 billion dollars net, according to its results published on Wednesday February 8. As for its competitors ExxonMobil or Chevron, the oil giant took advantage of soaring energy prices due to the war in Ukraine. These financial results once again revive the debate on the taxation of large groups, and their carbon impact, putting the French government in the embarrassment.
In 2022, the french group broke another record. The fifth largest oil company in the world has gone from 16 billion dollars in profits in 2021 – already a historic record – to 20.5 billion in 2022. A new peak after the losses linked to the Covid-19 crisis.
In question, on the one hand, the recovery in demand following the health crisis, and especially the war in Ukraine which led to a surge in oil and gas prices.
With the sanctions against Russia, Total operated a gradual withdrawal of its assets, but the group maintained its presence in very promising projects, particularly in Russian Siberia.
Global demand for the next few years should continue to support its profits, for all players in the sector: in 2022, four of the five main groups broke their respective records.
In the context of economic sluggishness that is looming, this makes people cringe. US President Joe Biden also slammed the results of ExxonMobil and Chevron after their announcements.
In France, in full protests for pensions And the purchasing powerenvironmental NGOs and some politicians are reviving the debate on the taxation of exceptional profits and on the maintenance of its polluting activities for the planet.
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The embarrassed French government, in full social discontent
At the end of the Council of Ministers on Wednesday, the French executive was embarrassed. ” I don’t do Total’s communication, please don’t draw this type of conclusion, I don’t believe, really “Launched Olivier Véran, on the defensive, at the microphone of Julien Chavanne from the political service of RFI. The government spokesman was obliged to justify himself, while the left accuses the executive of not taxing Total enough.
French President Emmanuel Macron had however pleaded for a “ contribution » oil groups at European level. But there, the government has nothing to complain about. ” Beyond the figures which can shock, I said it, dysfunctions of the world economy which can shock, I do not say anything elsecontinued the government spokesman. We must not confuse what concerns a profit made in France with a worldwide profit of a group whose head office is in France. 350 million euros in profits declared by Total in France, 200 million in taxes, and you also have two billion euros in levies, so these are exceptional levies linked to the crisis and these excess profits. »
The government did not need these announcements in the midst of pension reform. Complicated to ask the French to work longer when French companies reap record profits thanks to inflation.
The executive is content today to support the rebate at the pump promised by the CEO of Total.
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