Nine major oil companies to post $95bn profit in Q3 amid Iran war
Nine listed oil majors are projected to earn over $95bn in Q3, matching a $96bn profit in Q2
In Brief
- •Nine listed oil majors are projected to earn over $95bn in Q3, matching a $96bn profit in Q2
- •Saudi Aramco is expected to top the list with a 7% rise in net income to $30bn
- •BP reported its highest quarterly profit since 2008 at $8.46bn for July‑September
- •Oil prices spiked above $126 a barrel after the US‑Israel war on Iran
- •Refining divisions helped offset supply disruptions through the Strait of Hormuz
Why It Matters
The windfall profits highlight how geopolitical tensions can inflate fossil‑fuel revenues while households face higher energy bills and climate risks. The data underscore the urgency for governments to redirect corporate gains toward renewable investment and energy‑efficiency measures, rather than expanding fossil‑fuel extraction.
Key Details
- Projected Q3 profit
- >$95bn
- Q2 profit
- $96bn
- Saudi Aramco net income
- $30bn
- BP Q3 profit
- $8.46bn
- Oil price post‑war
- >$126/barrel
Context & Background
The profit surge follows the US‑Israel war on Iran that pushed global oil prices above $126 a barrel, the highest in recent history, creating a market environment that favored oil majors.
Original Reporting & Sources
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