Iran conflict boosts oil firms and financial plans
Major oil companies are forecasted to achieve record profits in the third quarter of 2026 due to increased refining margins and energy market disruptions caused by the US-Israel war on Iran. Refining margins may reach three to four times their levels from a year earlier. Additionally, Shell plans to repurchase shares worth $3.5 billion. Companies are also aiming to use these profits to pay down debt and strengthen their financial positions. Reports suggest that BP’s profits could exceed $7 billion, driven by higher refining and natural gas marketing. The focus remains on reducing debt and avoiding a return to excessive spending in the future.
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