British energy giant Shell has reported a sharp increase in its second-quarter earnings, posting a net profit of $10.8 billion for the April to June 2026 period as elevated oil prices boosted its financial performance despite disruptions to global energy supplies.
The company’s profit after tax was three times higher than the $3.6 billion recorded during the same period in 2025, reflecting the impact of stronger crude oil prices amid continued geopolitical tensions in the Middle East.
Shell’s Chief Executive Officer, Wael Sawan, said the company delivered solid operational performance despite challenging market conditions.
According to him, the company’s resilience enabled it to achieve strong financial results during another quarter marked by significant disruptions in global energy markets.
The surge in earnings was largely driven by higher crude oil prices after the conflict involving the United States and Iran tightened global oil supplies during the second quarter of 2026.
Shell also reported a 45 percent increase in revenue, with total earnings rising to $96.4 billion compared to the corresponding period last year.
Despite the impressive financial performance, the company noted that higher realised oil prices were partially offset by lower production volumes resulting from the ongoing Middle East conflict.
Gas production declined significantly during the quarter, falling to 631,000 barrels of oil equivalent per day, down from 909,000 barrels per day in the first quarter of 2026.
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The decline followed disruptions at Ras Laffan in northern Qatar, the world’s largest liquefied natural gas (LNG) export hub, which sustained major damage during the conflict, affecting production and exports.
In addition to its earnings announcement, Shell confirmed a new $3 billion share buyback programme, allowing the company to return more value to its shareholders while maintaining confidence in its long-term financial outlook.
The latest results underscore how geopolitical developments continue to influence global energy markets, with higher commodity prices benefiting major oil producers even as supply chain disruptions affect production levels.
