The world's seven largest fossil fuel companies earn a combined $3,000 per second.

Error detected

The claim states that seven companies earn this amount, but the underlying Oxfam analysis covers only six companies.

Omissions

• The $3,000 per second figure is based on a 2026 projection by Oxfam, not on actual past earnings. As of the session date (June 2026), the full year had not yet elapsed, so these remain forecasted profits.
• The Oxfam analysis covers six companies (Chevron, Shell, BP, ConocoPhillips, ExxonMobil, TotalEnergies), not seven as stated by the MEP.
• Saudi Aramco, the world's largest oil company by both revenue and net profit, is not included among the six companies analyzed. Adding Saudi Aramco alone (with approximately $93 billion in 2025 net profit) would roughly double the combined figure.
• The MEP did not cite the source of the claim (Oxfam), whose methodology and company selection criteria are not detailed in the speech.
• The data was published by Oxfam, an advocacy NGO, not by an official statistical agency or financial regulator.

Sources

• SecondaryOxfam InternationalSix of the biggest fossil fuel companies are projected to earn $2,967 a second in profits in 2026, new Oxfam research finds. The companies are Chevron, Shell, BP, ConocoPhillips, ExxonMobil and TotalEnergies. Their combined projected fossil fuel profits for 2026 stand at $94 billion.
• SecondaryCNNChevron, Shell, BP, ConocoPhillips, Exxon and TotalEnergies will make $2,967 a second in profits in 2026, an analysis from the non-profit Oxfam found.