reported a net income of US$39.5 billion for the quarter to March 31 from US$21.7 billion a year earlier.
Earnings by global energy companies such as BP and Shell have risen to their highest in at least a decade on the back of rising commodities prices, even as many of them incur mostly write-downs from exiting Russia. "Our view is Brent will end up lower in the second half of the year and so we are expecting earnings to pull back and for the second quarter to be a peak," said Yousef Husseini, associate director for equity research at EFG Hermes.
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