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2026-10-31 01:42:27
Impacted by the Persian Gulf situation and the Russia-Ukraine conflict, refining profits surged to record highs, resulting in over $50 billion in excess profits for major global oil giants. Statistics show that ExxonMobil, Chevron, BP, Shell, and Total Energy reported a combined adjusted net profit of $56.3 billion in the latest quarter, exceeding analysts' general expectations and marking the third-highest combined profit on record. The refining segments performed particularly well: ExxonMobil's refining profits reached $9.05 billion in the third quarter, while Chevron's refining business achieved a profit of $4.93 billion. Currently, several leading U.S. oil companies have temporarily shelved plans to increase stock buybacks, fearing negative public and political reactions to such actions.
