ExxonMobil Profit Doubles to USD 14.5 Billion, Chevron Quintuples to USD 12.1 Billion

ExxonMobil and Chevron reported second-quarter profits of USD 14.5 billion and USD 12.1 billion for the April-June period, gains of 105.1% and 384.8% year on year, as tightened crude supply lifted global energy prices.

ExxonMobil's net income compares with USD 7.1 billion in the same quarter of 2025. Earnings per share reached USD 3.48, up from USD 1.64 a year earlier.

Chevron's result marks the steeper move of the two. The company earned USD 2.5 billion in the year-ago period. Per-share net income climbed to USD 6.11 from USD 1.45.

Both sets of results were released for the April-June window, according to Birinci HABER on July 31, 2026.

The pricing backdrop is explicitly geopolitical. Escalating risks in the Middle East and disruptions on critical shipping routes including the Strait of Hormuz narrowed oil supply and pushed global energy prices higher.

That pressure has not eased. European natural gas prices rose after Iran and the United States carried out reciprocal attacks on tankers over the weekend.

The same commodity strength that lifted the two majors' margins is squeezing energy-intensive industry. German industrial production fell 1.1% month on month in July, against a Bloomberg consensus of a 0.2% increase.

Structural constraints compound that picture. The German Economic Institute (IW) expects the country's skilled labour shortfall to widen by 47% to 723,000 people by 2029.

The divergence in scale between the two upstream results is worth reading closely. ExxonMobil roughly doubled its bottom line, while Chevron's near-fivefold jump came off a far lower base of USD 2.5 billion, magnifying the percentage move. On a per-share basis the ranking inverts: Chevron delivered USD 6.11 against ExxonMobil's USD 3.48, despite the smaller absolute profit.

The results were also carried by Gulağaç Haber in an August 1, 2026 report describing the same April-June balance sheets.