Big Oil set to double profits as their emissions fuel deadly heatwaves
28 July 2026
The world’s six biggest fossil fuel corporations are expected to nearly double their combined net income in the second quarter of 2026, jumping from $23 billion in the previous quarter to $45 billion, reveals new Oxfam analysis ahead of their earnings announcements. New data also finds that the emissions of these corporations have significantly magnified the frequency and severity of heatwaves this century.