The world’s eight largest energy and oil companies generated a total of nearly 93 billion dollars in net profit in the second quarter (April-June) of 2026.
Sea-news.az reports that an analysis conducted by The Guardian newspaper based on the quarterly reports of offshore and onshore extraction giants such as “Saudi Aramco,” bp, “Shell,” “Equinor,” “TotalEnergies,” “Eni,” “Chevron,” and “ExxonMobil” shows that their total profit has approximately doubled compared to the same period last year (in the second quarter of 2025, this figure was 50 billion dollars).
The sharp rise in financial indicators was significantly influenced by escalating maritime and regional military tensions around Iran, which resulted in a sharp spike in prices on the global oil market. During the reporting quarter, the price of “Brent” crude oil exceeded the psychological threshold of 126 dollars on certain trading days.
- “Saudi Aramco” maintains its lead: Saudi Arabia’s state oil company demonstrated the highest financial result. The company’s net profit in the second quarter increased by 34 percent, exceeding 33 billion dollars.
- “Windfall tax” on the agenda: Following the disclosure of the quarterly financial results, discussions on the imposition of an additional tax (“windfall tax”) on the excess profits earned by energy companies against the backdrop of the geopolitical crisis have flared up again in Europe.
- EU’s joint position: The German government has stated that it is examining the legal and constitutional aspects of this mechanism. Meanwhile, a number of European Union member states advocate for the creation of a unified European model for taxing crisis profits.
