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Shell Reports Profit Surge as Oil Trading and Refining Boom
Shell’s quarterly earnings beat analyst estimates by 12% as higher oil and gas prices and strong trading lifted results.
- On Thursday, British energy major Shell reported stronger-than-expected second-quarter adjusted earnings of $9.84 billion. These results benefited from soaring oil and gas prices amid the ongoing conflict in the Middle East.
- Beating the $8.79 billion analyst consensus, the $9.84 billion profit nearly doubled the $4.26 billion Shell recorded during the same period last year.
- London-Listed shares of the company have jumped around 21% this year. The firm lags behind competitors like TotalEnergies, Exxon Mobil, and Chevron in overall market performance.
- Beyond earnings, the firm agreed to purchase Canadian energy company ARC Resources for $16.4 billion. This move is likely to reinvigorate criticism from President Donald Trump and Congress regarding high corporate profits.
- Analysts at Wood Mackenzie project oil producers will pocket a half-trillion-dollar cash windfall this year. Most firms prioritize retaining capital over new drilling investments or shareholder payouts.
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24 Articles
24 Articles
Shell more than doubles its profit in Q2, beating expectations
·London, United Kingdom
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Zeit OnlineReposted by 
Handelsblatt
HandelsblattHere you will find information on the topic "High energy prices". Read now "Shell earns still strong thanks to high oil and gas prices".
·Germany
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Total News Sources24
Leaning Left4Leaning Right5Center9Last UpdatedBias Distribution50% Center
Bias Distribution
- 50% of the sources are Center
50% Center
L 22%
C 50%
R 28%
Factuality
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