Report

Big Oil’s historical debt uncovered

April 28, 2022

European oil majors have made huge profits on the back of €13 trillion in unpaid health and environmental costs

The Rio Summit in 1992 was the first time that countries decided to act on development and the environment. However, since then the activities of the European five Big Oil companies (BP, Eni, Repsol, Shell, and TotalEnergies) have resulted into enormous societal costs through pollution, deteriorating public health and carbon emissions.

On behalf of T&E, the research institute Profundo has quantified the profits of the five oil majors since 1993 and their unpaid health and environmental costs.

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