# Since the war began the share price of Shell, a British giant, has risen by 4%; those of TotalEnergies, BP and Eni, its big European rivals, have soared by 15–17%.

*business · news · 2026-05-07 · Livemint*

## Key points

- Chevron and ExxonMobil's first-quarter net incomes fell 37% and 46%, mainly due to hedging losses.
- American majors incur larger hedging losses than European rivals because they typically buy more price protection.
- European energy firms generate significant trading profits, with BP trading 12 million barrels per day, 11 times its production.
- Chevron plans to handle over 40% of its crude in-house next quarter, doubling last year's share.
- ExxonMobil's output is particularly vulnerable to the Hormuz closure, risking a further decline in production.

**Companies:** ExxonMobil, Chevron, BP, TotalEnergies, Eni
**Countries:** United States, United Kingdom, Italy

[Read the full story on Livemint](https://www.livemint.com/global/not-all-oil-giants-are-prospering-from-the-iran-war-11778146514519.html)

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