Europe · Business news · Corporate · 30 Jul 2026
EU Energy
Shell reported second-quarter adjusted profit of $9.84bn, up from $6.92bn in the first quarter and above the $8.68bn analysts had forecast. Record upstream production in Brazil and record refinery utilisation offset output hindered in the Middle East. The company announced a new $3bn quarterly share buyback, with $1.2bn of the previous programme still to be executed, and declared a dividend of $0.3906 per share, both unchanged from the first quarter. Net debt fell to $41.8bn from $52.6bn. Its $16.4bn all-share purchase of Canada's ARC Resources is due to close in the third quarter.
Shell opened the oil majors' reporting round, and its drivers apply across BP, TotalEnergies, Eni, Equinor and Repsol: realised oil and gas prices on the upstream side and refining utilisation and margins downstream, both lifted by the Middle East conflict. The same price level is a cost for airlines, chemicals makers and other fuel users. Profits on this scale also sit behind the UK and Italian debates about extra levies on energy companies, a regulatory exposure for the sector.
Reported by interactive investor — “ii view: Shell gushes past Q2 profit forecasts” ↗ on 30 Jul 2026.
Official series on 30 Jul 2026 or the last day before it, and the latest observation.
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