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 profits as they did during the first quarter of 2026, a windfall that comes as their polluting products help fuel extreme heat that kills hundreds of thousands of people around the world annually.
Oxfam International’s analysis warns that the profits of the world’s six largest oil and gas companies are on track to skyrocket from $23 billion during the first quarter of the year to $45 billion in Q2 as emissions from their products intensify deadly heatwaves.
“Projected full-year profits of BP, Chevron, Eni, ExxonMobil, Shell, and TotalEnergies amount to $147 billion, more than their combined profits over the previous 21 months (Q2 2024 to Q4 2025),” the report states. “Among the biggest winners, Chevron is expected to report that it has quadrupled its profits to $1,200 a second in the last three months, while ExxonMobil’s profits are expected to have tripled to $1,800 a second.”
“Oil and gas corporations share an outsized responsibility for the climate crisis,” the publication continues. “Emissions from BP, Chevron, ExxonMobil, Shell, and TotalEnergies were sufficient to cause around 1 in 4 heatwaves reported globally between 2000 and 2023—heatwaves that would have been virtually impossible without human-made climate change.”
Hellbound and Down 