Shell announced on Thursday that its net profit tripled in the second quarter of 2026, reaching $10.8 billion, as the war in the Middle East drove a sharp rise in oil prices.
Net income attributable to shareholders for the April to June period came to $10.8 billion, up from $3.6 billion in the same period last year, according to the company's results announcement. The figure comfortably beat market expectations and marked Shell's strongest quarterly result since 2022, when oil and gas prices spiked following Russia's invasion of Ukraine.
Shell chief executive Wael Sawan said the company's operational performance had delivered "very strong results" during a quarter marked by continued disruption in global energy markets. Alongside the results, Shell announced a further $3 billion in share buybacks and confirmed that its acquisition of Canadian energy company ARC Resources had received shareholder approval, with completion expected in the third quarter of 2026.
Source: CNA
