Business · Companies · 1 hr ago
Major oil companies double profits as crude prices rise
Five major Western oil companies earned $118.86 billion in the first nine months of 2026, twice their combined profit in the same period a year earlier.
The group includes ExxonMobil and Chevron in the United States, Shell, BP and France’s TotalEnergies.
Higher oil, refining and fuel prices lifted profits, amid conflict in the Middle East and the closure of the Strait of Hormuz.
ExxonMobil led the group with $34.12 billion in profit, followed by Shell with $28.57 billion.
The companies are increasing dividends and share buybacks to return more money to shareholders.
Spanish company Repsol also reported a sharp rise, earning €5.01 billion through September, more than four times its profit a year earlier.
The figures cover the first nine months of 2026; the companies’ increased shareholder payments are the next development described.
Major European oil companies reported more than €68 billion in combined profits for the first nine months of 2026.
Shell led the companies compared in the European results, with net profit of $28.573 billion, up 109% from a year earlier.
The reported gains came amid rising crude prices linked to conflict in the Middle East.
Seven major Western oil companies made about $63 billion in profits from July through September, according to Corriere della Sera.
Companies raised dividends and share buybacks, while higher fuel prices contributed to inflation and prompted protests, the report said.
- Who
- Major European oil companies, including Shell, TotalEnergies, BP, Eni, Repsol and Moeve; a separate report covers seven major Western oil companies.
- What
- Oil companies reported sharply higher profits and increased shareholder payouts.
- When
- In the first nine months of 2026; another report gives third-quarter results for July through September.
- Where
- Europe and the wider Western oil sector.
- Why
- Rising crude and fuel prices amid conflicts in the Middle East, Iran and Ukraine, and attacks on Russian refineries, supported profits.
This story does not have two clearly opposing sides.
Major European oil companies reported more than €68 billion in combined profits.
Seven major Western oil companies recorded about $63 billion in profits, according to Corriere della Sera.
Expansión, 20minutos and Corriere della Sera published reports on the companies’ earnings.
Chosun Ilbo reported that five large US and European oil companies made about 75 trillion won in one quarter.
- European oil companies’ combined profits
- More than €68 billion through September 2026
- Shell net profit
- $28.573 billion; up 109% year on year
- TotalEnergies net profit
- $19.511 billion; up 91% year on year
- BP net profit
- $12.449 billion; up 258% year on year
- Western majors’ third-quarter profits
- About $63 billion across seven companies
- Oil-company share buybacks
- More than €22 billion among the European companies reported
5 sources
운전자는 기름값에 우는데, ‘석유공룡’은 웃었다…한 분기 75조원 벌어
Las grandes petroleras europeas disparan sus ganancias a más de 68.000 millones hasta septiembre
Las grandes petroleras europeas disparan sus ganancias por encima de los 68.000 millones hasta septiembre por la subida del crudo
Big Oil, 56 miliardi di profitti in 92 giorni grazie alla fiammata di petrolio e carburanti