Saudi Aramco’s profits exceed combined profits of world’s 5 largest energy companies in Q2

The profits of the world’s 6 largest energy companies during the second quarter of 2024 amounted to about $56.46 billion, of which Saudi Aramco’s share is about 51.5%, meaning that it exceeds the five largest companies in the same sector in terms of combined profitability.

Saudi Aramco’s net profit amounted to about $29.07 billion by the end of the second quarter of this year, compared to $27.39 billion for the 5 largest companies in terms of combined profitability in the same sector and during the same period in 2024.

The five largest oil companies in terms of profitability are: Exxon Mobil, Chevron (United States), Total Energy (France), Shell (Britain and the Netherlands), and BP (Britain).

The profits of the major companies in the sector were distributed as follows: $9.2 billion for Exxon Mobil (United States), and $6.3 billion for Shell (Britain and the Netherlands). Profits were distributed as follows: Chevron (USA) posted $4.43 billion, TotalEnergies (France) posted $4.7 billion. BP (Britain) also posted profits of $2.76 billion in the second quarter of this year. Saudi Aramco outperformed its closest competitor, ExxonMobil, by 215.97% compared to the second quarter of this year, in addition to Shell (Britain and the Netherlands), where the difference reached 361.4%. Oil prices fell during the second quarter of this year compared to the same period in 2023, affecting the profits of energy companies globally.