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Global oil companies' profits jump 134% in Q2 2026
Major global oil companies saw a significant surge in profits during the second quarter of 2026. According to data from Elos Ayta Consultoria, the combined net profit of 15 analyzed companies rose 134%, jumping from approximately US$ 36.3 billion in the first quarter to US$ 85 billion in the second quarter. This growth was largely driven by a recovery in oil barrel prices.
ExxonMobil led the group with US$ 14.5 billion in profit, followed by Chevron (US$ 12.1 billion), Shell (US$ 10.8 billion), and Petrobras (US$ 10.1 billion). These four companies accounted for roughly 56% of the total net profit for the group. Despite having lower absolute profit than some international peers, Petrobras maintained high efficiency with a net margin of 30.97%.
In Brazil, Petrobras President Magda Chambriard highlighted a significant hydrocarbon discovery in the Morpho exploratory well located in the Equatorial Margin, near the coast of Amapá. Chambriard stated that this discovery is vital for maintaining Brazil's geopolitical relevance and could lead to ultra-deep water oil production in the region within six to seven years.
Entities
Chevron · ExxonMobil · Magda Chambriard · Petrobras · Shell
Claims
What the coverage asserts, and how many sources carry each claim.
- [○ 1 SOURCE] Occidental Petroleum was the only company in the analyzed group to report a quarterly profit decrease, falling from US$ 3.3 billion to US$ 3.0 billion. www.infomoney.com.br
- [○ 1 SOURCE] Oil production in ultra-deep waters in Amapá is projected to begin within six to seven years. horadopovo.com.br
- [● 2 SOURCES] The group's net profit jumped from approximately US$ 36.3 billion in the first three months of the year to US$ 85 billion between April and June. www.spacemoney.com.br · www.infomoney.com.br
- [● 2 SOURCES] ExxonMobil led with US$ 14.5 billion, followed by Chevron with US$ 12.1 billion, Shell with US$ 10.8 billion, and Petrobras with US$ 10.1 billion. www.spacemoney.com.br · www.infomoney.com.br
- [● 2 SOURCES] The combined net profit of 15 major oil companies rose 134% in the second quarter of 2026 compared to the first quarter. www.spacemoney.com.br · www.infomoney.com.br
- [○ 1 SOURCE] Petrobras identified hydrocarbons in the Morpho exploratory well in block FZA-M-59 within the Brazilian Equatorial Margin. horadopovo.com.br
- [○ 1 SOURCE] The discovery of hydrocarbons in the Morpho exploratory well in the Equatorial Margin is expected to maintain Brazil's geopolitical importance in the oil sector. horadopovo.com.br
- [● 2 SOURCES] Shell reported a profit of US$ 10.8 billion. www.spacemoney.com.br · www.infomoney.com.br
- [● 2 SOURCES] The group's net profit reached US$ 85 billion between April and June 2026. www.spacemoney.com.br · www.infomoney.com.br
- [● 2 SOURCES] Petrobras reported a profit of US$ 10.1 billion. www.spacemoney.com.br · www.infomoney.com.br
- [● 2 SOURCES] Chevron reported a profit of US$ 12.1 billion. www.spacemoney.com.br · www.infomoney.com.br
- [○ 1 SOURCE] Petrobras expects oil production in ultra-deep waters in Amapá within six to seven years. horadopovo.com.br