Big Oil Profits Are Soaring While Extreme Heatwaves Scorch the Planet This Summer
- The world's six largest oil and gas companies are projected to increase their second-quarter 2026 profits to $45 billion, nearly doubling their first-quarter profits of $23 billion, with full-year profits expected to reach $147 billion, exceeding combined profits over the previous 21 months.
- Emissions from these companies caused about one in four global heatwaves between 2000 and 2023, which are linked to deadly extreme heat killing nearly 500,000 people annually.
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Large oil companies seize billions while generating pollution that kills thousands of people, says OXFAM-Québec
‘Making a Killing, Literally and Figuratively’: Big Oil Profits Set to Double Amid Deadly Heat
“Big Oil’s greed is incompatible with a livable planet and unless governments rein it in, they will make a mockery of international climate targets,” said one Oxfam campaigner. Brett Wilkins Common Dreams An analysis published Tuesday highlights how the world’s top fossil fuel companies are expected to rake in nearly twice as much in second-quarter…
'Making a Killing, Literally and Figuratively': Big Oil Profits Set to Double Amid Deadly Heat
"Big Oil’s greed is incompatible with a livable planet and unless governments rein it in, they will make a mockery of international climate targets,” said one Oxfam campaigner.
Big Oil profits are soaring while extreme heatwaves scorch the planet this summer
This summer, millions of people have felt the dire consequences of climate change as they faced extreme, record-breaking heat. And the Big Oil companies fueling those heat waves are seeing their profits soar, a new analysis finds. In the first quarter of 2026, the world’s six biggest oil companies—BP, Chevron, Eni, ExxonMobil, Shell and TotalEnergies—saw a combined net income of $23 billion. For Q2, that figure is expected to nearly double to $…
In the second quarter of 2026, the expected net profits of the six largest fossil fuel companies in the world are expected to double compared to the previous quarter, according to Oxfam's analysis, which recalls that gas and oil emissions are fuelling deadly heat waves.
Oil companies concentrate record profits while their emissions aggravate heat waves, floods, and human losses across the globe. LONDON – The six largest fossil fuel corporations are about to double their combined net income in the second quarter of 2026, while, in parallel, their emissions fuel the heat waves that punish the planet, said a new investigation by the international coalition against poverty Oxfam. These corporations “are doing a dea…
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