06-August-2026
Corporate News
 
Big Oil profits surge as Iran war keeps energy prices elevated
05-Aug-2026

Big oil companies continue to book massive profits as fighting in Iran disrupts energy markets and sends oil and gasoline prices sharply higher. Six of Europe's largest oil companies posted combined first-quarter profits of $22 billion, more than 40% higher than last year. Profits at BP, based in London, more than doubled to $3.9 billion in the second quarter, the company said Tuesday And Saudi Aramco reported a 44% year-on-year increase in second-quarter net profit that reached $32.69 billion, driven by higher crude oil, refined products and chemicals prices.

News Source:- https://economictimes.indiatimes.com/news/international/business/big-oil-profits-surge-as-iran-war-keeps-energy-prices-elevated/articleshow/132867374.cms