White House blasts Big Oil stock buybacks again as Chevron profits double
Yahoo! Finance
The White House on Friday launched a fresh attack against U.S. oil companies, accusing them of using profits to pay shareholders instead of boosting supply, after Chevron Corp said its annual profit doubled for 2022. Chevron posted a record $36.5 billion profit for 2022 that was more than double year-earlier earnings, kicking off what analysts expect to be a bumper earnings season for global energy suppliers. Earlier this week, Chevron said it would triple its spending on share repurchases to ...
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