Andrey Rudakov/Bloomberg
- Oil majors posted record profits for 2022, benefiting from the energy-market turmoil triggered by Russia's invasion of Ukraine.
- US President Joe Biden thinks it's 'outrageous', saying the firms invested too little of such profits to boost output.
- Exxon Mobil, Shell and TotalEnergies raked in the most profits among Western companies.
The biggest oil companies of the West saw their combined profit swell to a whopping $221 billion last year, with the latest earning reports capturing many firsts in the businesses' histories.