{"id":660489,"date":"2026-10-29T09:22:13","date_gmt":"2026-10-29T09:22:13","guid":{"rendered":"https:\/\/www.newsbeep.com\/il\/660489\/"},"modified":"2026-10-29T09:22:13","modified_gmt":"2026-10-29T09:22:13","slug":"shell-nearly-doubles-quarterly-profit-year-on-year","status":"publish","type":"post","link":"https:\/\/www.newsbeep.com\/il\/660489\/","title":{"rendered":"Shell nearly doubles quarterly profit year-on-year"},"content":{"rendered":"

Diesel fuel stations at a Shell gas station in Los Angeles, California, on Sept. 28, 2026.<\/p>\n

Bloomberg | Bloomberg | Getty Images<\/p>\n

Shell<\/a> nearly doubled its quarterly profit year-on-year to $10.81 billion and saw record refining margins, the oil major said Thursday, as geopolitical turmoil drives up crude prices and creates a fuel squeeze. <\/p>\n

Adjusted earnings, the company’s measure of net profit, soared from $5.43 billion a year ago.<\/p>\n

It was the strongest profit\u00a0since the second quarter of 2022, in the wake of Russia’s full-scale invasion of Ukraine<\/a>. Analysts expected the figure to be $9.92 billion for July to September, according to an LSEG-compiled consensus.<\/p>\n

Indicative refining margins were $42 per barrel, smashing the previous record of $28.04 per barrel in the second quarter of 2022, meeting the company’s forecast from earlier in the month.<\/p>\n

Shell’s London-listed shares were up around 3% in morning trade, hitting an all-time high.<\/p>\n

Stock Chart IconStock chart icon\"hide<\/p>\n

Shell share price.<\/p>\n

The company boosted its share buybacks, announcing a $5 billion share program to be completed over the next three months, up from $3 billion in the previous quarter.<\/p>\n

CEO Wael Sawan said the company saw strong operational performance amid “continued severe disruption to the global energy system.”<\/p>\n

Other highlights from Q2:<\/p>\n

Free cash flow of $16.3 billion, up from $10 billion year-on-year.Net debt came at $39.7 billion, down from $41.75 billion in the prior quarter.Capital expenditure outlook for 2026 lowered to the $23 to 25 billion range from $24 billion to $26 billion.<\/p>\n

The reduction in net debt was impressive given Shell completed a $16.4 billion acquisition<\/a> of Canadian energy firm ARC to allow it to increase production, Maurizio Carulli, equity research analyst for global energy and materials at Quilter Cheviot Investment Management, told CNBC on Thursday.<\/p>\n

Carulli said it was an impressive performance across all the company’s divisions, noting he expected further “small bolt-on acquisitions” of attractive targets but not a major reshaping of its portfolio ahead. Shell recently offloaded its Indian wind and solar business<\/a> and is reportedly looking to sell its<\/a> UK-based chemicals joint venture<\/a> with Exxon.<\/p>\n

Refined product crunch boosts industry<\/p>\n

France’s TotalEnergies<\/a> also benefited from market dynamics, more than doubling its adjusted net \u200bincome to $9.1 billion in third-quarter results published Thursday.<\/p>\n

While its oil trading activities were steady, the oil major was boosted by “historically high refining margins in Europe and worldwide,” CEO Patrick Pouyanne said.<\/p>\n

Stock Chart IconStock chart icon\"hide<\/p>\n

Brent crude.<\/p>\n","protected":false},"excerpt":{"rendered":"Diesel fuel stations at a Shell gas station in Los Angeles, California, on Sept. 28, 2026. Bloomberg |…\n","protected":false},"author":2,"featured_media":660490,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[5],"tags":[238343,47137,941,114,357,3150,3313,85,87,152310,46,1593,78,18782,69279,1594,1032,164836],"class_list":["post-660489","post","type-post","status-publish","format-standard","has-post-thumbnail","category-business","tag-lco26z","tag-breaking-news-earnings","tag-breaking-news-markets","tag-business","tag-business-news","tag-dividends","tag-earnings","tag-il","tag-iran","tag-ishares-global-energy-etf","tag-israel","tag-russia","tag-saudi-arabia","tag-shell-plc","tag-totalenergies-se","tag-ukraine","tag-united-states","tag-wael-sawan"],"_links":{"self":[{"href":"https:\/\/www.newsbeep.com\/il\/wp-json\/wp\/v2\/posts\/660489","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=660489"}],"version-history":[{"count":0,"href":"https:\/\/www.newsbeep.com\/il\/wp-json\/wp\/v2\/posts\/660489\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/il\/wp-json\/wp\/v2\/media\/660490"}],"wp:attachment":[{"href":"https:\/\/www.newsbeep.com\/il\/wp-json\/wp\/v2\/media?parent=660489"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.newsbeep.com\/il\/wp-json\/wp\/v2\/categories?post=660489"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.newsbeep.com\/il\/wp-json\/wp\/v2\/tags?post=660489"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}