{"id":566615,"date":"2026-07-30T09:21:11","date_gmt":"2026-07-30T09:21:11","guid":{"rendered":"https:\/\/www.newsbeep.com\/il\/566615\/"},"modified":"2026-07-30T09:21:11","modified_gmt":"2026-07-30T09:21:11","slug":"shells-profits-more-than-double-after-jump-in-oil-and-gas-prices-shell","status":"publish","type":"post","link":"https:\/\/www.newsbeep.com\/il\/566615\/","title":{"rendered":"Shell\u2019s profits more than double after jump in oil and gas prices | Shell"},"content":{"rendered":"

Shell more than doubled its profit in its second quarter of the year, as Europe\u2019s biggest oil and gas company reaped the benefits from the jump in oil and gas prices triggered by war in the Middle East.<\/p>\n

The FTSE 100 company\u2019s net profit hit $9.84bn (\u00a37.4bn) in the three months to June, more than double compared with the same period last year.<\/p>\n

Wholesale energy prices have soared because of the conflict in the Middle East, boosting profit margins and activity on Shell\u2019s trading desks.<\/p>\n

The global oil price has climbed from about $61 a barrel in January to highs of $126 at the end of April, owing to disruptions to flows of oil and gas through the strait of Hormuz. Brent crude, the international benchmark, traded at $93.18 a barrel on Thursday.<\/p>\n

Wael Sawan, Shell\u2019s chief executive, said there had been \u201csevere disruption in global energy markets\u201d due to the war, as the company also reported a 30% drop in production from its integrated gas division on the same quarter last year.<\/p>\n

The fall in production follows a strike that damaged its assets at the Ras Laffan liquefied natural gas (LNG) complex<\/a> in Qatar in March. Repairs to the plant are expected to take about a year.<\/p>\n

Shell\u2019s surging profits reignited calls from environmental campaigners for taxes to fund support for the households hardest hit by the rise in energy costs.<\/p>\n

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Rudy Schulkind, a political campaigner at Greenpeace, said the environmental group was \u201crunning out of words to describe the obscenity\u201d of huge profits at Shell.<\/p>\n

\u201cEurope is engulfed by apocalyptic wildfires, communities across Asia are reeling from devastating floods, and the UK battles through drought and yet more dangerous heat,\u201d he said. \u201cThese aren\u2019t anomalies, they\u2019re the defining story of the fossil fuel age. Shell takes the profits, and the rest of us pick up the catastrophic bill.\u201d<\/p>\n

Schulkind called on the government to implement a windfall tax on big oil companies and to use the revenue \u201cto help households with the cost of living, strengthen our resilience against extreme weather, and supercharge the transition to clean, affordable energy\u201d.<\/p>\n

Robert Palmer, deputy director at the campaign group Uplift, accused Shell of \u201cmaniacal behaviour\u201d for \u201cputting its profits ahead of the health of our planet\u201d.<\/p>\n

\u201cAs families and firefighters across Europe battle devastating wildfires<\/a>, Shell is cashing in on Trump\u2019s war and doubling down on oil and gas,\u201d Palmer said. \u201cThe world is literally on fire and Shell wants to add more fuel.\u201d<\/p>\n

Shares in Shell rose 1.5% in early trading on Thursday, to \u00a333.72, the highest since early June.<\/p>\n

This article was amended on 30 July 2026. An earlier version misnamed Rudy Schulkind as \u201cRuby\u201d.<\/p>\n","protected":false},"excerpt":{"rendered":"Shell more than doubled its profit in its second quarter of the year, as Europe\u2019s biggest oil and…\n","protected":false},"author":2,"featured_media":566616,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[5],"tags":[114,85,46],"class_list":["post-566615","post","type-post","status-publish","format-standard","has-post-thumbnail","category-business","tag-business","tag-il","tag-israel"],"_links":{"self":[{"href":"https:\/\/www.newsbeep.com\/il\/wp-json\/wp\/v2\/posts\/566615","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.newsbeep.com\/il\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.newsbeep.com\/il\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/il\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/il\/wp-json\/wp\/v2\/comments?post=566615"}],"version-history":[{"count":0,"href":"https:\/\/www.newsbeep.com\/il\/wp-json\/wp\/v2\/posts\/566615\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/il\/wp-json\/wp\/v2\/media\/566616"}],"wp:attachment":[{"href":"https:\/\/www.newsbeep.com\/il\/wp-json\/wp\/v2\/media?parent=566615"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.newsbeep.com\/il\/wp-json\/wp\/v2\/categories?post=566615"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.newsbeep.com\/il\/wp-json\/wp\/v2\/tags?post=566615"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}