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Shell reports $10.81 billion third-quarter profit
Shell reported adjusted third-quarter earnings of $10.81 billion, nearly doubling the $5.43 billion recorded during the same period last year. This result exceeded analyst expectations of approximately $10.33 billion and marks the company's strongest quarterly performance since 2022.
The surge in profitability was driven by record refining margins, which reached $42 per barrel, and elevated energy prices resulting from ongoing conflict in the Middle East. While the company saw increased revenues from liquefied natural gas (LNG) and refining, overall oil and gas production fell by 17% in the first nine months of the year, partly due to disruptions in Qatari production volumes caused by the regional conflict.
In response to the strong financial performance, Shell announced an increased quarterly share buyback program of $5 billion, up from $3 billion in the previous quarter. The company also reported that its integrated gas business earned $3.04 billion, while the upstream division recorded $3.19 billion in profits. Net debt decreased to $39.7 billion from $41.8 billion in the second quarter.
Entities
Middle East · Qatar · Shell · Shell plc · Sinead Gorman · TotalEnergies · Wael Sawan
Claims
What the coverage asserts, and how many sources carry each claim.
- [● 5 SOURCES] Shell's upstream business recorded $3.19 billion in profits. www.oedigital.com · www.b92.net · news.az · www.ceoinsightsindia.com
- [● 8 SOURCES] Adjusted earnings were $5.43 billion in the same quarter the previous year. www.finanzen.at · www.oedigital.com · tpo.nl · www.independent.co.uk · novini247.com · +3 more
- [● 5 SOURCES] Shell's integrated gas business recorded $3.04 billion in profits. www.oedigital.com · www.b92.net · news.az · www.ceoinsightsindia.com · www.themarketreporter.co.uk
- [● 4 SOURCES] Middle East conflict impacted Qatari production volumes. www.finanzen.at · tpo.nl · www.b92.net · news.az
- [● 11 SOURCES] Refining margins reached $42 per barrel. www.oedigital.com · tpo.nl · www.b92.net · novini247.com · www.devdiscourse.com · +6 more
- [● 11 SOURCES] Shell announced a $5 billion share buyback program. www.finanzen.at · www.oedigital.com · tpo.nl · www.independent.co.uk · novini247.com · +6 more
- [● 15 SOURCES] Shell reported adjusted earnings of $10.81 billion for the third quarter. www.finanzen.at · www.oedigital.com · tpo.nl · www.independent.co.uk · www.b92.net · +10 more
- [● 2 SOURCES] The chemicals and products unit's adjusted earnings reached $3.86 billion. www.independent.co.uk · www.share-talk.com