Big oil companies continue to book massive profits as Iran war keeps petrol prices high Big oil companies continue to book massive profits as fighting in Iran disrupts energy markets and sends oil and petrol prices sharply higher. Six of Europe’s largest oil companies posted combined first-quarter profits of US$22 billion (NZ$37.5b), more than 40% higher than last year. The supercharged performances from big oil in Europe and the Middle East follow reports of enormous profits from the largest US oil drillers last week. The PostSeeing as this Government won’t hold oil companies to account for the pollution they create, how about holding them to account for the profits they make during a crisis? Oil is an essential input into the economy, and New Zealanders have little ability to avoid price increases when global oil prices spike.