Shell reports near-doubled earnings amid oil price surge

Summarised from 3 outlets · Updated 29 Oct, 08:10 · Archive

Shell's quarterly earnings nearly doubled to 10.81 billion US dollars as oil prices soared above 100 dollars a barrel.

Shell has reported quarterly underlying earnings of 10.81 billion US dollars (£8.12 billion) for the three months to September 30, nearly double the 5.43 billion dollars (£4.08 billion) from the same period a year earlier. The earnings beat expectations as oil prices soared past 100 dollars a barrel, driven by disruption to Middle East oil supplies with no sign of an end to the conflict or reopening of the Strait of Hormuz shipping route.

The company's chemicals and products unit, which includes its oil trading business, saw adjusted earnings reach 3.86 billion dollars (£2.9 billion) in the third quarter, compared with just 550 million dollars (£412.9 million) a year ago. Shell announced plans to further boost shareholder returns with an additional five billion US dollars (£3.75 billion) in share buybacks before the year-end.

Campaigners criticised the profit haul at a time when households and motorists are experiencing painful rises in fuel costs and knock-on inflation. Simon Francis, co-ordinator of the End Fuel Poverty Coalition, said there was 'no version of these figures which look even remotely fair', adding that 'Shell earns more in sixty seconds than most people in this country manage in twelve months'. Chief executive Wael Sawan attributed the results to 'Shell's relentless focus on operational performance' during a quarter of 'continued severe disruption to the global energy system'.

How it is being reported

• Shell profits double to $10.8bn as Iran war pushes up profit margin on oilEnergy firm to return $5bn to shareholders as climate campaigners criticise high profits Shell has doubled its profits in the last quarter after the Middle East conflict drove up the price of oil and gas and created shortages in the global market. Shell reported on Thursday morning that it made an adjusted profit of $10.8bn (£8.1bn) in the July-September quarter, up from $5.432bn in the third quarter of 2025. The results beat analyst expectations for a rise to $10.33bn. Continue reading...Guardian Business · 29 Oct, 08:00
• Shell criticised over bumper earnings haul amid soaring oil pricesThe FTSE 100 oil giant reported better-than-expected underlying earnings of 10.81 billion US dollars for the three months to September 30.Evening Standard · 29 Oct, 07:38
• Shell criticised over bumper earnings haul amid soaring oil pricesThe FTSE 100 oil giant reported better-than-expected underlying earnings of 10.81 billion US dollars for the three months to September 30.Independent Business · 29 Oct, 07:38

In this story: Shell · FTSE 100 · Wael Sawan · End Fuel Poverty Coalition · Simon Francis · Iran · Middle East · Strait of Hormuz

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