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2 clusters · 9 sources · 5 days · First seen · Last updated

Global energy sector refining margin growth

Overview

Major energy companies are reporting significant growth in refining margins and profits, driven by global fuel supply constraints.

Galp reported record third-quarter refining margins of 33.8 dollars per barrel of oil equivalent, a more than threefold increase from the previous year. The company attributed this surge to supply constraints caused by Middle East conflicts and Ukrainian attacks on Russian refineries. Galp also noted increases in upstream production, natural gas trading volumes, and renewable energy capacity.

Similarly, ExxonMobil reported a second-quarter net income of 14.5 billion dollars. The company forecasts growth in its Energy Products segment for the third quarter, citing global refining capacity shortages linked to conflicts in Ukraine and the Middle East. While ExxonMobil expects gains from natural gas prices and divestments, it anticipates some offsets from lower oil prices and decreases in its Chemicals segment.

Entities

Galp · FactSet · Morgan Stanley · NYSE · ExxonMobil

Timeline

  1. [BUSINESS] 4 sources
    ExxonMobil reports $14.5 billion Q2 profit and forecasts refining margin growth

    ExxonMobil reported $14.5 billion in Q2 2026 GAAP earnings and forecasts a $4.5 billion boost in refining margins for Q3 due to geopolitical tensions and capacity shortages.

  2. [BUSINESS] 5 sources
    Galp refining margins more than triple to record high in Q3

    Galp's third-quarter refining margins more than tripled to a record 33.8 dollars per barrel, driven by global supply constraints and increased production in its upstream segment.

Sources

ad-hoc-news.de · bairdmaritime.com · correiomanha.pt · dn.pt · haniotika-nea.gr · lesaffaires.com · oilandgas360.com · rr.pt · sapo.pt