# Global oil profit surge and Petrobras dominance > Live situation record from CLSTR: https://clstr.news/situations/global-oil-industry-profit-surge-and-petrobras-developments > Updated: 2026-08-26T16:06:47.000Z. Sources: 12. Developments: 3. In the second quarter of 2026, major global oil companies experienced a significant surge in profits. Combined net profits for 15 analyzed firms rose 134% to US$ 85 billion, up from approximately US$ 36.3 billion in the first quarter, driven largely 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. Petrobras reported a net profit of R$ 52.4 billion for the quarter, representing a 96.8% year-on-year increase. The company achieved record oil production of 2.7 million barrels per day and maintained a net margin of 30.97%. Within the Brazilian market, Petrobras accounted for 51.8% of the total net profit generated by the ten most profitable companies listed on the B3. Its single-company result exceeded the combined profits of Itaú Unibanco, Bradesco, Vale, Itaúsa, BTG Pactual, Ambev, Braskem, Banco do Brasil, and Santander Brasil. Additionally, Petrobras President Magda Chambriard announced a significant hydrocarbon discovery in the Morpho exploratory well located in the Equatorial Margin near the coast of Amapá. Chambriard noted that this discovery is vital for Brazil’s geopolitical relevance and may enable ultra-deep water oil production in the region within six to seven years. ## Claims - The combined net profit of 15 major oil companies rose 134% in the second quarter of 2026 compared to the first quarter. (corroborated by 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. (corroborated by 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. (corroborated by 2 sources) - Petrobras identified hydrocarbons in the Morpho exploratory well in block FZA-M-59 within the Brazilian Equatorial Margin. (single source) - Oil production in ultra-deep waters in Amapá is projected to begin within six to seven years. (single 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. (single 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. (single source) ## Timeline ### 2026-08-26: Petrobras accounts for over half of B3's top ten companies' profits Petrobras generated R$ 52.4 billion in Q2 2026, accounting for over 51% of the total profits of the ten most profitable companies on the B3. 2 sources. https://clstr.news/cluster/petrobras-accounts-for-over-half-of-b3s-top-ten-companies-profits ### 2026-08-16: Global oil companies' profits jump 134% in Q2 2026 Global oil companies' combined profits rose 134% to US$ 85 billion in Q2 2026. Petrobras reported US$ 10.1 billion in profit and announced a significant new oil discovery in Brazil's Amapá region. 10 sources. https://clstr.news/cluster/global-oil-companies-see-134-profit-surge-in-q2-2026 ### 2026-08-05: Petrobras posts R$52.4 billion net profit in Q2 2026 Petrobras posted a R$ 52.4 billion net profit in Q2 2026, up 97 % YoY, with record oil output (2.7 m bpd), 101 % refinery utilization, near‑million‑bpd exports, a 40 % drop in derivative imports, R$ 26.7 b in ‑ 81 sources. https://clstr.news/cluster/brazils-ibovespa-stalls-amid-centralbank-rate-outlook-and-bank-earnings --- Cite as: Global oil profit surge and Petrobras dominance. CLSTR, https://clstr.news/situations/global-oil-industry-profit-surge-and-petrobras-developments