The energy giant reported adjusted third-quarter earnings of $10.8bn, surpassing analyst forecasts of $10.33bn due to elevated oil prices averaging $94.90 a barrel. Soaring commodity values also elevated the business to the top-ranked spot on the UK's FTSE 100 index as shares surpassed £40. Although damage to a crucial Gulf plant cut Shell's prewar gas production by one-third, record refining margins of $42 per barrel powered the exceptional earnings surge. Chief Executive Wael Sawan praised the operational delivery, even as climate advocacy groups heavily condemned the surge in corporate returns during a broader cost-of-living crisis.
Key points
Severe conflict in the Middle East and Russia restricted global refinery operations, driv…: Severe conflict in the Middle East and Russia restricted global refinery operations, driving European benchmark gas prices toward €64 per megawatt-hour.
Operational disruptions cut Shell's prewar gas output by one-third following damage susta…: Operational disruptions cut Shell's prewar gas output by one-third following damage sustained at a key processing facility in the Gulf.
Environmental campaigners sharply condemned the bumper returns, alleging that fossil fuel…: Environmental campaigners sharply condemned the bumper returns, alleging that fossil fuel executives are benefiting financially while global communities face high expenses.
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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.
The company also raised its share buyback programme – it plans to return $5bn to investors for the next three months, up from $3bn in the last quarter.
“Shell’s relentless focus on operational performance enabled very strong results in a quarter with continued severe disruption to the global energy system,” the Shell chief executive, Wael Sawan, said.
Climate campaigners criticised the jump in profits.
“As fossil-fuelled storms, floods, and soaring costs wreck communities, oil executives like Shell’s Wael Sawan are popping champagne on the deck of a sinking planet. We are paying with our lives and paychecks while they cash in on our misery,” said Philip Evans, a senior campaigner at Greenpeace.
A massive tax reversal from the previous year skewed comparative earnings, creating a sharp bottom-line drop despite healthy top-line expansion. Profitability was further squeezed by elevated energy expenses and seasonal disruptions, forcing operating margins to contract significantly. Amid these near-term headwinds, the producer secured investor backing to merge with key industry peers under a unified operational strategy.
Leadership is pressing ahead with listing preparations in the American public markets despite facing skepticism from prospective backers regarding the company's worth. The aggressive stance reflects confidence in securing a substantial market debut even as external concerns emerge. Achieving this multi-billion-dollar benchmark would position the firm for significant financial expansion.
Samsung Electronics has posted an unprecedented quarter, achieving financial results that no other technology company has ever matched. Following the record performance, the electronics giant has also addressed its expectations regarding the future outlook for the memory-chip sector.