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23rd May 2022

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Report: Oil industry made €3bn profit in Europe since war

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Oil companies have made around €3bn in profits in Europe since the Ukraine war began, a report published on Thursday by Greenpeace found. Between January and March, crude oil prices increased by about 19.38 cents per litre — prompting campaigners to demand taxes on windfall profits and investigations into potential price-fixing. Campaigners said it is necessary to accelerate the greening of the transport sector to reduce oil dependencies on Russia.

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