The oil giants, who earn more than God, not only count the money until the banknote detector is hot, but also start domineering dividends and buybacks.

When it released its second-quarter results on Thursday, ConocoPhillips said it would pay investors a special dividend of $1.40 a share on Oct. 14, three times the company's regular quarterly dividend ($0.46). And shareholders can receive both regular and special dividends.

Meanwhile, Canadian oil company Tourmaline will return investors on Aug. 12 with a special dividend of C $2 per share, about twice its regular full-year dividend. What's more, this is the company's third special dividend this year.

More and more companies are joining the ranks of huge dividends, and oil and gas giant Natural Resources Canada announced on Thursday that it will pay a special dividend of C $1.50 per share on Aug. 31, double its regular quarterly dividend of C $0.75. Last Friday, EOG Resources Inc. It also said it would pay a special dividend of $1.50 per share on Sept. 29, also twice the regular quarterly dividend.

Rafi Tahmazian, a senior portfolio manager at Canoe Financial, a Canadian investment firm, was quoted as sayingThe current energy industry is like aThe broken ATM keeps spitting money, but there are not enough people around to pick up the money.

As mentioned earlier on Wall Street, oil companies backed by high oil prices set record profits in the second quarter.

Exxon Mobil CorpNet profit in the second quarter reached $17.85 billion, exceeding analysts' expectations of $16.9 billion, a nearly three-fold increase from the previous quarter, setting a new record.

Chevron CorpSecond-quarter net profit was $11.622 billion, easily exceeding market expectations of $9.9 billion and a year-on-year increase of about 277%, an all-time high. It raised the upper limit of the annual share buyback guidance range from $10 billion to $15 billion.

ShellThe adjusted net profit in the second quarter was 11.47 billion US dollars, an increase of 107 percent over the same period last year and 25.6 percent month-on-month, reaching another all-time high. The company also announced that it would expand its repurchase scale and will buy back a further $6 billion of shares in the third quarter on the basis of having already repurchased $8.5 billion of shares in the first half of the year.

French energy giantTotalEnergies SESecond-quarter net profit was $5.7 billion, up 158% from a year earlier, while adjusted net profit was $9.8 billion, up 180% from a year earlier. It announced that it would buy back $2 billion of shares in the third quarter and plans to increase its net investment plan this year to $16 billion.

BP P.L.C.Basic replacement cost profit reached a staggering $8.45 billion in the second quarter, far exceeding market expectations of $6.73 billion and surging 202% year-on-year, the highest since 2008. The company's net debt fell for the ninth consecutive quarter, raising its dividend by 10 per cent to 6.006 cents a share from 5.46 cents a share and plans to complete a $3.5 billion share buyback before third-quarter results are announced.

Statistics show that driven by oil and gas pricesThe world's five oil giants Exxon Mobil Corp, Chevron Corp, Shell, TotalEnergies SE and BP P.L.C. made astonishing profits in the second quarter.55.1 billion US dollars, a record high.

Throughout the second quarter, the international price of crude oil remained high around $100, while the price of natural gas rose by more than 20%. Spurred by rising oil prices and share buybacksS & PThe 500 energy index has returned 31% this year, 44 percentage points higher than the broader benchmark s & p 500.

Big oil companies are facing strong political pressure in Europe and the United States, where record profits are closely linked to high energy prices faced by ordinary consumers.In terms of capital allocation, oil companies now prefer to return cash to shareholders rather than increase capital spending on oil and gas.

Analysts say this conservative capital allocation strategy reflects the industry's concerns about future oil and gas demand, with oil and gas price growth showing signs of slowing in the third quarter amid the expected impact of the recession.