Hi r/climate, this is Emma from The Guardian. We wanted to share this exclusive story on climate action blockers including Saudi Arabia, Russia and major fossil fuel firms set to reap a huge war windfall from consumers.
*From our story:*
Aramco is by far the biggest winner, estimated to make a war profit of $25.5bn in 2026 if the oil price averages $100. That is on top of the huge profits habitually made by the majority state-owned company – £250m a day between 2016 to 2023. Saudi Arabia has for decades led successful efforts to block and delay international climate action.
Three Russian companies – Gazprom, Rosneft and Lukoil – stand to make an estimated $23.9bn in Iran-related war profits by the end of the year. The conflict has benefited Vladimir Putin’s treasure chest for his own war in Ukraine, with Russia receiving oil export revenues of €713m a day, 50% higher than in February, according to analysis by the Centre for Research on Energy and Clean Air.
ExxonMobil, which had a long record of denying climate change, will take in $11bn in unearned war profits in 2026 if the $100 price endures. Shell will get a $6.8bn boost. Both companies, like others, have also enjoyed huge increases in their value due to rises in share prices in the month after the Iran war began: ExxonMobil is worth $87bn more, Shell £25bn more.
Chevron is also on track to make big windfall profits from the Iran war – $9.2bn – according to the analysis. The company’s chief executive, Mike Wirth, has also benefited, selling $104m worth of Chevron shares between January and March.
3 Comments
Hi r/climate, this is Emma from The Guardian. We wanted to share this exclusive story on climate action blockers including Saudi Arabia, Russia and major fossil fuel firms set to reap a huge war windfall from consumers.
*From our story:*
Aramco is by far the biggest winner, estimated to make a war profit of $25.5bn in 2026 if the oil price averages $100. That is on top of the huge profits habitually made by the majority state-owned company – £250m a day between 2016 to 2023. Saudi Arabia has for decades led successful efforts to block and delay international climate action.
Three Russian companies – Gazprom, Rosneft and Lukoil – stand to make an estimated $23.9bn in Iran-related war profits by the end of the year. The conflict has benefited Vladimir Putin’s treasure chest for his own war in Ukraine, with Russia receiving oil export revenues of €713m a day, 50% higher than in February, according to analysis by the Centre for Research on Energy and Clean Air.
ExxonMobil, which had a long record of denying climate change, will take in $11bn in unearned war profits in 2026 if the $100 price endures. Shell will get a $6.8bn boost. Both companies, like others, have also enjoyed huge increases in their value due to rises in share prices in the month after the Iran war began: ExxonMobil is worth $87bn more, Shell £25bn more.
Chevron is also on track to make big windfall profits from the Iran war – $9.2bn – according to the analysis. The company’s chief executive, Mike Wirth, has also benefited, selling $104m worth of Chevron shares between January and March.
[You can read the full story for free at this link.](https://www.theguardian.com/environment/2026/apr/15/big-oil-huge-war-windfall-consumers?referring_host=Reddit&utm_campaign=guardianacct)
All this because people have been fooled en masse.
It’s a good time to be an oil barron!!