$93 Billion Windfall Profits for Oil Giants Amid War and Climate Crisis

The world's top oil companies have seen their profits soar to $93 billion in just three months, despite ongoing conflicts and climate crises. The eight listed oil producers - including Saudi Aramco, BP, Shell, Equinor, TotalEnergies, Eni, Chevron, and ExxonMobil - made almost double the combined profits of $50 billion they saw in the same period last year.

The surge in profits is largely attributed to the Iran conflict, which has sent energy prices skyrocketing. The war has caused billions of dollars' worth of damage, but it's also brought in massive profits for oil companies. Saudi Aramco, in particular, reported a 34% increase in its quarterly net income to over $33 billion.

The climate crisis is also having devastating effects on the planet. The world saw one of its worst heatwaves ever this summer, with temperatures reaching as high as 42.5C in South Korea and Japan. The heatwave was linked directly to carbon emissions from the world's biggest fossil fuel firms, which were enough to cause more than 50 heatwaves that would otherwise have been impossible.

Campaigners are calling for oil companies to pay for the environmental damage they're causing. 'Big oil is taking us for a ride when one of their biggest allies, Donald Trump, is telling them to rein in their profiteering,' said Patrick Galey, lead on fossil fuels at Global Witness.