Altogether, the five Big Oil companies reported combined profits of $196.3 billion last year, more than the economic output of most countries.
Asked by CNBC's Hadley Gamble last month if a windfall tax on oil profits was a bad idea, Saudi Aramco's Amin Nasser replied, "I would say, it's not helpful for them [in order] to have additional investment. They need to invest in the sector, they need to grow the business, in alternatives and in conventional energy, and they need to be helped."
"We need to see the support from the policymakers, and from the capital markets at the same time," Nasser said at the World Economic Forum in Davos, Switzerland.Separately, BP CEO Bernard Looney on Tuesday sought to defend the company from criticism after reporting record 2022 profits of $27.7 billion,
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