Back to today’s briefing

Story perspectives

EU Ministers Seek Windfall Tax on War-Profit Oil-Gas

5/1/2026

37 3

Summary

Story summary

Finance ministers from Austria, Germany, Italy, Portugal and Spain asked the EU climate commissioner to levy a windfall tax on oil-gas firms’ excess profits.
The ministers’ letter said the tax would make firms profiting from war share the burden.
BP’s first-quarter profit more than doubled year over year.
TotalEnergies reported a $5.4 billion net profit in Q1.

1 of 1

Story summary

Finance ministers from Austria, Germany, Italy, Portugal and Spain asked the EU climate commissioner to levy a windfall tax on oil-gas firms’ excess profits.
The ministers’ letter said the tax would make firms profiting from war share the burden.
BP’s first-quarter profit more than doubled year over year.
TotalEnergies reported a $5.4 billion net profit in Q1.