The bumper gains are likely to renew political pressure on the oil and gas industry.
Oil giant ExxonMobil reaped a record $55.7bn in profit last year as oil prices surged following Russia's invasion of Ukraine.
Chief executive Darren Woods said on Tuesday the profits were a vindication of the firm's strategy, which faced criticism from investors just a few years ago for not doing enough to respond to climate change by shifting to investments in renewable energy. "Of course, our results clearly benefited from a favourable market but, to take full advantage of the undersupplied market, our work began years ago," Mr Woods said in a conference call with investors. "We leaned in when others leaned out, bucking conventional wisdom."
The company said it took a hit of $1.3bn in the final months of 2022, mainly from extra European taxes.
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Exxon Posts Highest Profits In Western Oil Company History | OilPrice.comExxonMobil (NYSE: $XOM) reported on Tuesday $55.7 billion in earnings for 2022 in a record-breaking earnings tally for any Western oil supermajor ever.
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