Oil majors accumulated more than €7 billion in profits in less than six months within the European Union

Omissions

• The underlying source (T&E) measures 'excess profits' — profits above a reference baseline — not total profits as the claim implies.
• T&E's geographic scope is stated as 'Europe', which is broader than the 'European Union' specified in the claim.
• The figure originates from a single NGO analysis (Transport & Environment); the corroborating articles (agenceurope, certi.news, sustainabilityonline) all derive from the same T&E publication and are therefore not fully independent.
• The precise reported figure is €7.5 billion, which supports 'more than €7 billion' but the exact value is €7.5bn, not €7bn.

Sources

• SecondaryTransport & Environment (T&E)Just eight oil companies have made €7.5 billion in excess profits in Europe in the first half of 2026, new T&E analysis shows.
• SecondaryTransport & Environment (T&E) — oil profits trackerJust eight oil companies have made €7.5 billion in excess profits in Europe in the first half of 2026.
• SecondaryAgence EuropeEight oil companies made €7.5 billion in profits in Europe in first half of 2026, according to NGO T&E. "BP, Shell, Eni, Orlen, Repsol and OMV more than doubled their EU profits in the second quarter of this year compared to the same time last year"
• SecondarySustainabilityOnlineEight major oil companies generated €7.5 billion in excess profits in Europe in the first half of 2026, off the back of volatility in the market.