Shell profits rise 131% amid Middle East conflict
Shell Oil and Gas's results revealed a 131% increase in profits in the second quarter of 2026, reaching $9.84 billion, surpassing analysts' expectations of $8.92 billion. This growth was driven by rising oil and gas prices and market volatility caused by the war in the Middle East. The company benefited from strong performance in trading, refining, and chemicals, despite a decline in production and partial operational disruptions in Qatar. Additionally, it recorded its second-highest quarterly profit ever, with gas segment profits soaring by 55% and record earnings in the chemicals and products sectors. Shell’s debt decreased to $41.8 billion, and cash flows increased. The company announced a share repurchase program worth $3 billion and forecasted capital expenditures to remain between $24 billion and $26 billion for 2026.
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