Shell, BP, TotalEnergies, Eni, Equinor, ExxonMobil, Chevron, and ConocoPhillips score $29 billion

European and American oil majors, including Shell, BP, TotalEnergies, Eni, Equinor, ExxonMobil, Chevron, and ConocoPhillips, have collectively made a profit of about $28.73 billion, showing resilience in the energy sector amid global uncertainties. The companies have managed to succeed despite challenges such as geopolitical tensions, economic fluctuations, and climate change concerns impacting the oil market.

Energy security remains a top priority for nations worldwide, with a recent summit addressing the future of energy security in the face of evolving geopolitical, technological, and economic factors. Discussions at the summit highlighted the need for a comprehensive approach to energy security, incorporating clean energy technologies, supply chain resilience, and cybersecurity measures.

The International Energy Agency emphasizes the importance of addressing methane emissions and integrating advanced analytics to enhance energy system efficiency and resilience. While transitioning to clean energy is crucial, fossil fuels are expected to maintain a role in the energy mix, especially in sectors with limited alternatives.

Major oil and gas companies like Shell, Equinor, BP, TotalEnergies, Eni, ExxonMobil, Chevron, and ConocoPhillips have reported strong financial results for the first quarter of 2025, underscoring the continued significance of fossil fuels in the global energy landscape. These profits reflect the companies’ strategies to navigate market challenges and deliver shareholder value through operational excellence and cost discipline.