Oil companies' quarterly net income 2024

All major oil companies reported an increase in net profits in the third quarter of 2024. United Kingdom-based Shell reported the largest quarterly gain. However, state-owned Saudi Aramco had by far the highest earnings that quarter, at over 27 billion U.S. dollars.

Oil companies' net profits are often tied to overall economic and geopolitical events, which have used influences on oil prices and may make or break a company's financial performance. For example, a significant rise in oil and gas prices in 2022 helped oil companies like Saudi Aramco and ExxonMobil cash in significant income despite production output staying relatively stable. Saudi Aramco made nearly 50 billion U.S. dollars in net income in the second quarter of 2022, compared with 17.9 billion U.S. dollars for ExxonMobil. BP's net loss of more than 20 billion U.S. dollars reported in the first quarter of 2022 is due to the company's divestment of stakes in Russia's Rosneft oil company.

Quarterly net income/loss of select oil companies worldwide from Q1 2021 to Q1 2024, by company (in million U.S. dollars)

Characteristic	BP	Chevron	Eni	ExxonMobil	Saudi Aramco	Shell	TotalEnergies
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Release date

2024

More information

Region

Worldwide

Survey time period

Q1 2021 to Q4 2021

Supplementary notes

Data was compiled by Statista, based on the latest reports of each company, as follows:
BP: Figures taken from the company's latest quarterly results (xcl file tab summary) - profit/loss attributed to shareholders.
Chevron: Figures taken from the company’s latest quarterly report (page 7) - net income/loss attributed to Chevron Corporation
Eni: Figures taken from the company's latest quarterly report (tab 1) - net profit/loss.
ExxonMobil: Figures taken from the company's latest quarterly report (page 3) - net income/loss attributed to ExxonMobil (U.S. GAAP). Data for Q4 was calculated using full-year net income as reported in annual report.
Saudi Aramco: Figures taken from the company's latest quarterly report (page 1) - net income. Profits were converted into U.S. dollars at a rate of 1.00 USD = 3.75 SAR. Data for Q4 was calculated using full-year net income as reported in annual report.
Shell: Figures taken from the company's latest quarterly reporting (xcl tab statement of income) - income/loss attributable to Shell plc shareholder.
TotalEnergies: Figures taken from the company's latest quarterly report (page 3) - net income attributed to TotalEnergies share.

This statistic was compiled using several releases of each publication.