According to a CNA report, ExxonMobil's second-quarter profit "grew more than one-fold to $14.5 billion," while revenue climbed 42% to $116 billion. The same report states Chevron's profit "reached $12.1 billion, more than 5 times the year-earlier period." A separate report from UDN (money.udn.com) confirms the identical figures for both companies, citing them independently a day later.
| Company | Metric | Q2 Figure | Change vs. Year Earlier |
|---|---|---|---|
| ExxonMobil | Profit | $14.5 billion | More than doubled |
| ExxonMobil | Revenue | $116 billion | Up 42% |
| Chevron | Profit | $12.1 billion | More than 5x |
The convergence of the two figures across CNA and UDN's separate reporting underscores that both companies' Q2 results moved sharply higher on both the top and bottom line.
Per the CNA report, "global refining capacity has fallen by nearly 9% due to disruption from the war." That capacity loss is a direct supply-side constraint on refined products such as gasoline.
The UDN report adds a second data point: ExxonMobil CEO Darren Woods said that while the impact of the US-Iran war has been largely favorable for ExxonMobil, "Qatar's key LNG facility was damaged, which reduced output." Together, the two reports point to war-related damage hitting both refining capacity and LNG production.
The CNA report states that gasoline prices remain "above the psychological threshold of $4 a gallon," adding that this "could pose a political risk for President Trump ahead of the US midterm elections."
The UDN report cites ExxonMobil's own statement that refining margins — profit from products like gasoline after subtracting crude costs — "hit a record high this quarter." Read together, the near-9% refining capacity loss cited by CNA and the record refining margin cited by UDN describe the same tightening: less capacity converting crude into fuel, alongside record profitability on the fuel that does get refined.
According to CNA, ExxonMobil CEO Darren Woods said of a near-term price decline: "I wouldn't hold my breath in the near term."
Chevron CEO Mike Wirth, per the same report, said: "In the third quarter and beyond, we will see continued upward pressure on product prices."
The record Q2 profits reported by CNA and UDN for ExxonMobil ($14.5 billion, +42% revenue) and Chevron ($12.1 billion, more than 5x) line up with the same reports' account of war-damaged supply — a near-9% cut to global refining capacity and reduced Qatari LNG output — plus ExxonMobil's record refining margin this quarter. Against that backdrop, gasoline holding above $4 a gallon and both CEOs declining to forecast near-term relief describe a single, consistent picture across both sources: supply damage and record refining margins arriving together, with company earnings the direct beneficiary.
According to CNA, ExxonMobil's Q2 profit grew more than one-fold to $14.5 billion, while revenue rose 42% to $116 billion.
According to CNA, Chevron's Q2 profit reached $12.1 billion, more than 5 times the year-earlier period.
According to CNA, global refining capacity has fallen by nearly 9% due to disruption from the war.
According to a NVIDIA newsroom announcement, NVIDIA and KAIST (Korea Advanced Institute of Science and Technology) are launching a joint AI research lab at the KAIST Kim Jaechul Graduate School of AI in Seoul to advance agentic AI for South Korea, backed by a $300 million, five-year collaboration that includes $50 million a year in compute contributions.
According to an Intel Foundry newsroom announcement, Intel Foundry has completed the Rapid Assured Microelectronics Prototypes – Commercial (RAMP-C) program, a Department of War-backed effort that Intel says supported development of domestic, leading-edge CMOS manufacturing and now feeds into its Secure Enclave initiative.
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