{"id":93664,"date":"2026-07-30T09:16:14","date_gmt":"2026-07-30T09:16:14","guid":{"rendered":"https:\/\/www.europesays.com\/britain\/93664\/"},"modified":"2026-07-30T09:16:14","modified_gmt":"2026-07-30T09:16:14","slug":"shells-q2-profit-surges-as-oil-trading-refining-margins-boom","status":"publish","type":"post","link":"https:\/\/www.europesays.com\/britain\/93664\/","title":{"rendered":"Shell\u2019s Q2 profit surges as oil trading, refining margins boom"},"content":{"rendered":"<p><img fetchpriority=\"high\" alt=\" Shell logo is displayed on a filling station in London, Britain, 02 February 2023. The oil and gas company Shell has reported record annual profits. The 39.9 billion dollar profits in 2022 are double its previous years total and the highest in the company's 115 year history. EPA\/NEIL HALL\" loading=\"eager\" width=\"912\" height=\"570\" decoding=\"async\" data-nimg=\"1\" class=\"html-img h-auto w-full\" style=\"color:transparent\"   src=\"https:\/\/www.europesays.com\/britain\/wp-content\/uploads\/2026\/07\/07335263-shell-oil-logo-epa-11_02_26.webp\"\/>Globally, Shell said its jet fuel production was up 20% compared to the same quarter last year. (EPA Images pic)<br \/>\nLONDON: Shell Plc said its second-quarter (Q2) profit jumped on the back of an oil-refining boom and another robust period for energy trading as the Iran war upended the market.<\/p>\n<p class=\"py-1.5 mb-4 text-lg\">Adjusted net income rose to US$9.8 billion, more than doubling earnings from the same period a year earlier, the London-based major said in a statement. <\/p>\n<p class=\"py-1.5 mb-4 text-lg\">That marked the highest quarterly profit since 2022 and beat the US$8.7 billion average analyst estimate compiled by Bloomberg. <\/p>\n<p class=\"py-1.5 mb-4 text-lg\">The company kept its US$3 billion quarterly share buyback and net debt fell.<\/p>\n<p class=\"py-1.5 mb-4 text-lg\">The Iran war has given Shell and other oil giants a short-term financial fillip, with the rewards from trading and refining far outweighing any disruption they\u2019ve suffered. <\/p>\n<p class=\"py-1.5 mb-4 text-lg\">Having completed a multi-year period of cost-cutting, streamlining and prioritising shareholder returns, Shell CEO Wael Sawan now he needs to show he can replenish the company\u2019s long-term reserves base.<\/p>\n<p class=\"py-1.5 mb-4 text-lg\">The quarter was dominated by heightened volatility across global energy markets after fighting between the US and Iran disrupted oil and gas shipments through the Strait of Hormuz. <\/p>\n<p class=\"py-1.5 mb-4 text-lg\">As well as lifting the majors, the war also boosted the world\u2019s top commodity merchants.<\/p>\n<p class=\"py-1.5 mb-4 text-lg\">Fuel prices have soared far above crude oil, boosting margins, and trading has given European majors an even bigger boost.<\/p>\n<p class=\"py-1.5 mb-4 text-lg\">Shell ran its refineries hard in the period at a 102% utilisation rate, the highest level since at least 2022 when the company changed its methodology for the measurement to align more closely with industry disclosures. <\/p>\n<p class=\"py-1.5 mb-4 text-lg\">Globally, Shell said its jet fuel production was up 20% compared to the same quarter last year.<\/p>\n<p class=\"py-1.5 mb-4 text-lg\">Still, the conflict has also hurt Shell. Europe\u2019s largest energy company reported a 31% production decline from its integrated gas division compared to the same quarter last year, driven by disruption in Qatar.<\/p>\n<p class=\"py-1.5 mb-4 text-lg\">Shell is the world\u2019s biggest LNG trader.<\/p>\n<p class=\"py-1.5 mb-4 text-lg\">Sawan said on Bloomberg TV that reopening its Qatar plant was offline pending the ability to export product.<\/p>\n","protected":false},"excerpt":{"rendered":"Globally, Shell said its jet fuel production was up 20% compared to the same quarter last year. (EPA&hellip;\n","protected":false},"author":2,"featured_media":93665,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":"","_share_on_mastodon":"0"},"categories":[20685],"tags":[7077,21083,234,1449,40019,23558,1150,4496,21023],"class_list":["post-93664","post","type-post","status-publish","format-standard","has-post-thumbnail","category-shell","tag-oil-prices","tag-earnings","tag-energy","tag-iran-war","tag-oil-refining","tag-profit","tag-shell","tag-shell-plc","tag-wael-sawan"],"share_on_mastodon":{"url":"https:\/\/pubeurope.com\/@UnitedKingdom\/117008176484475291","error":""},"_links":{"self":[{"href":"https:\/\/www.europesays.com\/britain\/wp-json\/wp\/v2\/posts\/93664","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.europesays.com\/britain\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.europesays.com\/britain\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.europesays.com\/britain\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.europesays.com\/britain\/wp-json\/wp\/v2\/comments?post=93664"}],"version-history":[{"count":0,"href":"https:\/\/www.europesays.com\/britain\/wp-json\/wp\/v2\/posts\/93664\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.europesays.com\/britain\/wp-json\/wp\/v2\/media\/93665"}],"wp:attachment":[{"href":"https:\/\/www.europesays.com\/britain\/wp-json\/wp\/v2\/media?parent=93664"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.europesays.com\/britain\/wp-json\/wp\/v2\/categories?post=93664"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.europesays.com\/britain\/wp-json\/wp\/v2\/tags?post=93664"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}