MOSCOW, May 12 (Bernama-Sputnik/RIA Novosti) -- The trading divisions of three major energy companies – Shell, BP, and TotalEnergies – earned up to US$4.75 billion thanks to high oil and gas prices linked to the situation in West Asia, the Financial Times reported, citing five analysts.
Europe's three largest oil companies generated substantial profits from the turmoil in global energy markets caused by the conflict with Iran, which led to sharp price volatility and created major opportunities for their trading divisions, the publication said.
Analysts compare profits with the final quarter of 2025.
Most believe that BP's trading division benefited the most – US$1.75 billion.
Shell earned an additional US$1.6 billion, while TotalEnergies earned approximately US$800 million more.
According to the companies' first-quarter reports, BP's net profit increased 5.6-fold year-on-year to US$3.8 billion.
Shell's net profit increased by 19 per cent to US$5.7 billion, while TotalEnergies' net profit increased by half to US$5.8 billion in January-March 2026.
-- BERNAMA-SPUTNIK/RIA NOVOSTI
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