Matthieu Favas

speaker

128 appearances 1 recordings 1 series first heard Jul 2026 last heard 2 Jul

Matthieu Favas’s voice in public audio — every appearance, attributed to the second.

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Recordings per month over the last 12 months — 1 in all, peaking in Jul 2026 with 1.

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So which companies are we talking about then?

Companies like BP and Shell, which are mostly British.

Total energy, also known as total, which is French.

Ah, total, no.

Like total.

And they trade by our estimate forty to fifty million barrels per day of oil and gas.

Relative to it's five to ten times more than what they produce.

So it's huge.

It just shows how central trading is to these businesses.

At this moment or in general?

In general.

Yeah, in general.

And probably during this very volatile period there's been more because they've shifted more barrels.

It's a very, very lucrative activity.

The majors don't publish data for their trading desks on profitability or anything else really.

It's very secretive.

But the estimates we've got from a number of sources suggest that these trio, BP Shell and Total,

this year could earn in between fifteen to twenty billion dollars in profit, which might be one fifth of the profits.

And this might add up to a third to their return on capital.

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