Shell, the energy giant, reported adjusted earnings of $10.8 billion for the third quarter, reflecting strong operational performance in a volatile market.
The company report record refining margins, despite global energy system disruptions, and announced a $5 billion share buyback programme for the next three months.
Chief executive Wael Sawan said: “Shell’s relentless focus on operational performance enabled very strong results in a quarter with continued severe disruption to the global energy system.
“We are further investing in our advantaged Integrated Gas business with the completion of the ARC Resources Ltd. acquisition and the final investment decision on LNG Canada Phase 2, supporting Shell’s long-term cash flow growth.”
Chris Beauchamp, chief market analyst at investing and trading platform IG, said: “Shell has been on an absolute tear of late, building on a rally that was given new impetus during 2025.
“The group finds itself transformed, with profits surging and debt being cut yet further, and the group’s confidence is underlined by the new buyback.
“After the mid-year dip for oil prices, it looks like we will see oil at elevated levels for a while yet, delighting shareholders.”
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