Oil companies worldwide have reported substantial profits during the first quarter and first half of the year, with cautious expectations given the Middle East conflict.
Regional scenario: Latin America and the United States
Brazilian company Petrobras reported a daily average of 3.281 million barrels of oil and natural gas in the first half of the year, equivalent to 15.1% more than the same period in 2025.
Venezuelan oil company PDVSA reported accumulated revenues of $9.4 billion from January to May. Meanwhile, the refining subsidiary Citgo Petroleum closed its first quarter of 2026 with a net profit of $157 million.
The Argentine company YPF reported a net profit of $409 million and an operating profit of $878 million, in addition to achieving a record adjusted EBITDA for a first quarter of $1.594 billion, thanks to higher international prices and efficiency in Vaca Muerta.
The US-based Chevron reported net profits of $2.2 billion and adjusted profits of $2.8 billion in the first quarter of 2026. ConocoPhillips reported adjusted earnings per share (EPS) of $1.89 and total revenue of approximately $15.36 billion in the same period.
Europe and Asia
Repsol (Spain) reported earnings of €2.201 billion in the first half of this year, a 265% increase, for a net profit of €2.711 billion.
Italy’s Eni reported earnings of €4.390 billion from January to June, a 156 % increase compared to the €1.715 billion reported for the same period last year.
Finnish oil company Neste reported a net profit of €1.298 billion in the first half of the year.
British Shell reported $6.9 billion in earnings for the first quarter and a net profit of $5.694 billion.
Saudi Aramco, for its part, posted an adjusted net profit of $33.6 billion from January to March, representing a year-on-year increase of 25 % to 26 % compared to the same period in 2025.
PetroChina also reported a net profit attributable to shareholders of 48.333 billion yuan (approximately $7.07 billion) in the first quarter of 2026, a year-on-year increase of 1.9 %.
M.Pino
With information from international media
(Reference image source: Ben Wicks on Unsplash)
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