Revealed: major oil firms make $93bn profits amid war and climate crisis
Why This Matters
Key context: <p>Iran conflict windfall over three months reignites calls for companies ‘cashing in on human misery’ to pay for environmental damage</p><p></p><p>Eight of the biggest oil companies amassed profits of more than $90bn (£67bn) in just three months as the Iran conflict sent energy prices soaring and the emissions-fuelled climate crisis caused deadly heatwaves.</p><p>The windfall war profits have reignited calls for oil and gas supermajors such as Saudi Aramco and BP to pay for the environmental damage caused by “cashing in on human misery” and fund a rapid transition to renewable energy.</p> <a href="https://www.theguardian.com/business/ng-interactive/2026/aug/04/revealed-major-oil-firms-make-93bn-profits-amid-war-and-climate-crisis">Continue reading...</a> This development from The Guardian highlights ongoing changes in the sector.
Iran conflict windfall over three months reignites calls for companies ‘cashing in on human misery’ to pay for environmental damageEight of the biggest oil companies amassed profits of more than $90bn (£67bn) in just three months as the Iran conflict sent energy prices soaring and the emissions-fuelled climate crisis caused deadly heatwaves.The windfall war profits have reignited calls for oil and gas supermajors such as Saudi Aramco and BP to pay for the environmental damage caused by “cashing in on human misery” and fund a rapid transition to renewable energy. Continue reading...
Curation & Context
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