Shell doubles third quarter profits to 10.8 billion dollars

Shell reported on October 29, 2026, that its adjusted profit doubled to 10.8 billion dollars, or 8.1 billion pounds, for the July to September third quarter. The Guardian and AOL reported that this figure is up from 5.432 billion dollars in the third quarter of 2025. The results exceeded the expectations of analysts, who had forecast profits of 10.33 billion dollars. [1][2]

The earnings increase came after conflict involving Iran pushed up oil and gas prices and created shortages in the global market, according to the Guardian and AOL. Shell also announced plans to return 5 billion dollars to shareholders through a share buyback programme over the next three months. This is an increase from the 3 billion dollars returned to investors in the previous quarter, while climate campaigners criticized the high profits. [1][2]

Shell is a British multinational oil and gas company headquartered in London. It is the largest investor owned oil company in Europe and ranks third globally behind ExxonMobil and Chevron. Shell is listed on the London Stock Exchange, Euronext Amsterdam, and the New York Stock Exchange. [3]

The rising energy costs caused by the Middle East war have impacted other major European companies as well. As FTMQ News reported earlier, German chemicals group BASF raised its full year earnings outlook after increasing product prices by up to 30 percent to offset soaring energy expenses. [6]