Shell’s Second-Quarter Profit More Than Doubles to $9.8 Billion Amid High Energy Prices
The company's earnings surged compared to the same period last year, driven by volatile energy markets and strong performance in its trading and chemicals divisions, despite some production disruptions.
Energy company Shell announced on Thursday that its adjusted earnings for the second quarter of 2026 reached $9.84 billion, more than doubling the $4.26 billion profit reported in the same period of 2025. [2, 4, 6] The result surpassed analysts' consensus forecast of $8.92 billion and represents the company's most profitable quarter since 2022. [2, 6, 24]
The surge in profitability comes as the energy sector benefits from elevated oil and gas prices and increased market volatility linked to the ongoing conflict in the Middle East. [2, 5, 24] The international benchmark for crude oil, Brent, was trading around $90 per barrel on Thursday, a significant increase over the past year. [3, 9] Market disruptions have created more opportunities for the large trading businesses operated by major energy firms. [2, 6]
Trading Strength Offsets Production Issues
Shell's strong results were supported by robust performance in its liquefied natural gas (LNG) and oil trading arms, as well as improved margins in its chemicals division. [2, 6, 24] The company's integrated gas business reported profits of $2.7 billion, while its chemicals and products unit earned $2.3 billion. [6, 24]
These gains helped to offset lower sales volumes resulting from operational disruptions. [2, 6] Production at Shell's Pearl gas-to-liquids facility in Qatar was partially halted in March following an attack that damaged one of the plant's two production units. [5, 6, 24] The company has stated that repairs could take approximately one year to complete. [5, 24]
In its quarterly announcement, Shell confirmed it would maintain its share buyback program, planning to repurchase an additional $3 billion of its shares over the next three months. [2, 4, 6]
Sources
- US Top News and Analysis — Shell posts best quarterly profit in four years as Iran war boosts oil and gas prices
- Shell posts best quarterly profit in four years as Iran war boosts oil and gas prices
- Shell more than doubles its profit in Q2, beating expectations
- Shell's profits more than double after jump in oil and gas prices
- Shell's profit more than doubles to US$9.8 billion as US-Iran war boosts oil, gas prices
- Shell pushes earnings up to $10bn in Q2 – Energy Voice
- Shell: Q2 Earnings Snapshot | kvue.com
- Brent crude oil – Price – Chart – Historical Data – News – Trading Economics
- Oil prices surge 7 percent as Brent climbs to $90.25 per barrel – Big News Network.com
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