Greenpeace reports massive oil profits following war in Iran

A report by Greenpeace reveals that European oil companies have accumulated approximately 36 billion euros in exceptional profits since the outbreak of war in Iran on February 28, 2026. The study, covering the period from March 1 to October 19, 2026, indicates that oil companies earned an average of 154 million euros in daily profits across the European Union.

In France, the industry amassed an additional 5.7 billion euros during this period, averaging 24.6 million euros per day. This coincided with average pump price increases of 23.9 cents per liter for diesel and 11.5 cents per liter for gasoline.

Belgium is identified as one of the countries with the highest excess profits per liter in the EU, ranking sixth with 3.5% of total European excess profits despite having only 2.6% of the population. In Belgium, companies such as TotalEnergies and ExxonMobil, which operate refineries in the Port of Antwerp, have seen daily profits average 5.4 million euros. Greenpeace is calling on the European Union and Belgian authorities to implement windfall taxes on diesel and gasoline sales to address these what they describe as ‘war rents’.