Six oil companies reported 89 billion dollars in combined profits for January through September
Six European oil companies—BP, Eni, Equinor, Repsol, Shell and TotalEnergies—made $89 billion in profits in the first nine months of 2026, 102% more than a year earlier, Global Witness said. The New York Post reported that more than 50 major U.S. oil and gas companies earned over $130 billion from April through September amid the Iran war.
More context
Oil companies reported another surge in profits as the war with Iran disrupted supplies and lifted energy prices. The six firms reported $89 billion in combined profits for January-September, 102% above the year-earlier period, Global Witness said. They earned $38 billion from July through September. A New York Times analysis cited by the New York Post put profits at more than $130 billion for over 50 major U.S. oil and gas companies from April to September, almost triple the year-earlier total. Global Witness said refining profits per barrel at Shell and TotalEnergies had nearly quadrupled year over year. Middle East shipment disruptions and Ukrainian strikes on Russian refineries have reduced global refining capacity; executives told NPR they do not expect the supply shock to ease soon.
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Reporting
- National Public Radio — Oil company earnings skyrocket — again : NPR
- New York Post — Big Oil makes $130B in profits as gas prices rise amid Iran war
- The Independent — European oil giants made $89bn in first nine months of 2026 amid Middle East war, report finds | The Independent
- CNBC — Trump criticized Big Oil's profits. Here's how refining profits surged
Verifier’s note
NPR, the New York Post, and The Independent report sharply higher oil-company profits amid the Iran war, while CNBC reports a war-related windfall reflected in this week’s corporate results. The Economic Times result mentions higher earnings only as context for its article about Trump’s oil portfolio, rather than reporting the proposed event as its central claim.