The eight largest companies in the oil sector recorded extraordinary profits of more than EUR 7 billion in the first half of 2026 alone.

Omissions

• The €7.5 billion figure comes from a single originating source, the NGO analysis by Transport & Environment; the exact figure is not published by an official statistical body (Eurostat, IEA, national statistics offices).
• The scope is 'in Europe', whereas the claim as extracted is framed as 'International'. The figure covers excess profits on European operations, not global profits.
• The metric is 'excess/windfall profits' (profits above a normal baseline), a narrower measure than total profits. The same eight oil companies' total worldwide profits were far larger — The Guardian reported eight major oil firms (Aramco, BP, Shell, Equinor, TotalEnergies, Eni, Chevron, ExxonMobil) made over $93 billion in combined profits in Q2 2026 alone — so the claim is only accurate if read as the specific 'excess profits' metric, not as total profits.
• The originating analysis was published in August 2026, before the session date of 7 October 2026, so the MEP could have known it.

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.
• SecondarySustainability OnlineEight 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 ...
• SecondaryThe GuardianThe data suggests the eight oil companies – Aramco, BP, Shell, Equinor, TotalEnergies, Eni, Chevron and ExxonMobil – made more than $93 billion in combined profits during the second quarter of 2026 (context on total, not excess, profits).