{"id":93847,"date":"2026-07-30T12:38:23","date_gmt":"2026-07-30T12:38:23","guid":{"rendered":"https:\/\/www.europesays.com\/britain\/93847\/"},"modified":"2026-07-30T12:38:23","modified_gmt":"2026-07-30T12:38:23","slug":"shell-profit-surges-as-mideast-war-fuels-oil-prices","status":"publish","type":"post","link":"https:\/\/www.europesays.com\/britain\/93847\/","title":{"rendered":"Shell profit surges as Mideast war fuels oil prices"},"content":{"rendered":"

<\/a> Energy majors are profiting also from their trades as oil and gas futures swing between big gains and losses on the war’s latest headlines (HENRY NICHOLLS) <\/p>\n

British energy giant Shell said Thursday that its net profit tripled to $10.8 billion in the second quarter as the Middle East war sent oil prices soaring. <\/p>\n

Profit after tax for the April-June period compared with $3.6 billion in the second quarter of 2025, Shell said in an earnings statement. <\/p>\n

Energy majors are profiting also from their trades as oil and gas futures swing between big gains and losses on the war’s latest headlines.\u00a0 <\/p>\n

By Thursday, crude futures remained far above pre-war levels. <\/p>\n

“Shell’s operational performance enabled very strong results during another quarter of severe disruption in global energy markets,” said chief executive Wael Sawan. <\/p>\n

Oil prices traded far higher in the second quarter of 2026 compared with the equivalent period one year earlier as the US-Iran war disrupted global supplies. <\/p>\n

Shell’s revenue jumped 45 percent to $96.4 billion in the second quarter year-on-year. <\/p>\n

It noted, however, that “higher realised prices” were “partly offset by lower volumes, mainly due to the impact of the Middle East conflict”. <\/p>\n

Shell said that its gas production had slumped in the April-June period to 631,000 barrels of oil equivalent daily from 909,000 barrels per day in the first quarter. <\/p>\n

Its gas output was impacted after the world’s largest liquefied natural gas hub, Ras Laffan in northern Qatar, suffered significant damage in the war. <\/p>\n

Shell added Thursday that its latest share buyback would return $3 billion to shareholders. <\/p>\n

Following the company update, Shell’s share price rose 1.6 percent in early trading on London’s top-tier FTSE 100 index, which was up 0.6 percent overall. <\/p>\n

“Records for both upstream production in Brazil and refinery utilisation have helped counter hindered Middle East output,” noted Keith Bowman, equity analyst at Interactive Investor. <\/p>\n

– ‘Obscene numbers’ – <\/p>\n

The huge earnings and returns to shareholders once again prompted strong reaction from NGOs, as they link fossil fuel companies to severe climate events. <\/p>\n

“We’re running out of words to describe the obscenity of these numbers,” Greenpeace political campaigner Rudy Schulkind said in a statement. <\/p>\n

“Europe is engulfed by apocalyptic wildfires, communities across Asia are reeling from devastating floods, and the UK battles through drought and yet more dangerous heat.\u00a0 <\/p>\n

“These aren’t anomalies, they’re the defining story of the fossil fuel age.” <\/p>\n

French oil and gas giant TotalEnergies last week reported that its net profit doubled in the second quarter to $5.4 billion. <\/p>\n

Oxfam has projected full-year profits of the world’s biggest energy groups — BP, Chevron, Eni, ExxonMobil, Shell and TotalEnergies — amount to $147 billion, as it called for them to be taxed more. <\/p>\n","protected":false},"excerpt":{"rendered":"Energy majors are profiting also from their trades as oil and gas futures swing between big gains and…\n","protected":false},"author":2,"featured_media":93848,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":"","_share_on_mastodon":"0"},"categories":[20685],"tags":[7077,612,40058,20903,20902,189,1150,4496],"class_list":["post-93847","post","type-post","status-publish","format-standard","has-post-thumbnail","category-shell","tag-oil-prices","tag-barrels-of-oil-equivalent","tag-energy-majors","tag-global-energy-markets","tag-liquefied-natural-gas","tag-oil-and-gas","tag-shell","tag-shell-plc"],"share_on_mastodon":{"url":"https:\/\/pubeurope.com\/@UnitedKingdom\/117008970803262464","error":""},"_links":{"self":[{"href":"https:\/\/www.europesays.com\/britain\/wp-json\/wp\/v2\/posts\/93847","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=93847"}],"version-history":[{"count":0,"href":"https:\/\/www.europesays.com\/britain\/wp-json\/wp\/v2\/posts\/93847\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.europesays.com\/britain\/wp-json\/wp\/v2\/media\/93848"}],"wp:attachment":[{"href":"https:\/\/www.europesays.com\/britain\/wp-json\/wp\/v2\/media?parent=93847"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.europesays.com\/britain\/wp-json\/wp\/v2\/categories?post=93847"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.europesays.com\/britain\/wp-json\/wp\/v2\/tags?post=93847"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}