Shell has reported better-than-expected second-quarter profit and maintained the pace of its shareholder returns, despite lower oil and gas prices.
The London-listed energy giant posted adjusted earnings of £3.21billion for the three months through June, beating analyst expectations of £2.92billion.
It reported adjusted earnings of £4.74billion over the same period last year and £4.20billion in the first three months of 2025.
The results come shortly after the firm flagged weaker trading results at its integrated gas division and losses at its chemicals and products arm.
Shell also announced another £2.64billion in share buybacks over the next three months, keeping the pace of its shareholder returns.
Wael Sawan, Chief Executive at Shell, said: "Shell generated robust cash flows reflecting strong operational performance in a less favourable macro environment.
"We continued to deliver on our strategy by enhancing our deep-water portfolio in Nigeria and Brazil, and achieved a key milestone by shipping the first cargo from LNG Canada.
"Our continued focus on performance, discipline and simplification helped deliver $3.9billion (£2.94billion) of structural cost reductions since 2022, with the majority delivered through non-portfolio actions.
"This focus enables us to commence another $3.5 billion (£2.64billlion) of buybacks for the next three months, the 15th consecutive quarter of at least $3 billion in buybacks."
FTSE 100
The UK's flagship share index, the FTSE 100, was down one-point at 9,135 shortly after opening this morning.
Brent crude oil futures were down 0.26% at $70.65 a barrel.
Companies reporting today
- Amazon.com - Q2 Results
- Anglo American- Half Year Results
- Apple - Q3 Results
- British American Tobacco - Half Year Results
- Cameco - Q2 Results
- Drax Group - Half Year Results
- Elementis - Half Year Results
- Endeavour Mining - Q2 Results
- Haleon - Half Year Results
- Hammerson - Half Year Results
- Helios Towers - Half Year Results
- JTC - Half Year Trading Statement
- London Stock Exchange Group - Half Year Results
- Mastercard - Q2 Results
- Melrose Industries - Half Year Results
- Mondi - Half Year Results
- Next - Q2 Trading Statement
- Pets at Home Group - Q1 Trading Statement
- Rentokil Initial - Half Year Results
- Rolls-Royce - Half Year Results
- Schroders - Half Year Results
- Segro - Half Year Results
- Shell - Q2 Results
- St James's Place - Half Year Results
- Standard Chartered - Half Year Results
- Unilever - Half Year Results
- Weir Group - Half Year Results