Which international oil companies (IOCs) are specifically named in the news as having seen a profit surge in Q2?

The news explicitly names five major international oil companies (IOCs): ExxonMobil (NYSE: XOM), Chevron (NYSE: CVX), BP (NYSE: BP), Shell (NYSE: SHEL), and TotalEnergies (referred to as 'Total', NYSE: TOT). These firms are identified as the core group of 'integrated large multinational petroleum companies' whose Q2 profits 'generally doubled' year-on-year.

What did President Trump say about IOC profits on August 3, and what action did he call for?

On August 3, President Trump stated in the Oval Office that 'oil giants earned too much money during the conflict' and asserted they 'should return part of that money to the public — preferably by lowering retail prices.' This direct public statement frames the profit surge as ethically questionable amid ongoing geopolitical conflict and calls for tangible consumer relief through lower fuel prices.

International Oil Companies See Q2 Profit Surge

Aug 4, 2026

Integrated oil majors such as ExxonMobil and Shell reported doubled profits in Q2, leading President Trump to call for price reductions citing excessive wartime earnings.

caixin

2026-08-04

International Oil Companies See Q2 Profit Surge

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