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Petrol prices are displayed at a filling station, as the price of oil and gas has surged amid the conflict in the Middle East, in London

Petrol prices are displayed at a Shell filling station, as the price of oil and gas has surged amid the conflict in the Middle East, in London, Britain, March 5, 2026 REUTERS/Jack Taylor Purchase Licensing Rights, opens new tab

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LONDON, July 30 (Reuters) - Shell's (SHEL.L), opens new tab adjusted ​earnings, its definition of net profit, ‌reached $9.84 billion in the second quarter, it said on Thursday, beating expectations and more than doubling its profit ​from the same time last year.

Higher ​oil and gas prices, stronger LNG and ⁠oil trading and improved chemicals margins helped ​support the British major's earnings, offsetting lower sales ​volumes from disruptions to its Qatar operations during the conflict in the Middle East.

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Analysts had expected net profit ​of $8.92 billion, according to a company-provided consensus, ​compared with $4.26 billion a year earlier.

Shell and its peers have ‌benefited ⁠from the market disruptions caused by the U.S.-Israeli war with Iran, which has driven up oil and gas prices and increased volatility across the ​energy sector. ​Higher commodity ⁠prices have boosted the value of their production, while sharp market ​swings have created more opportunities for ​the ⁠large trading businesses operated by companies such as Shell, BP (BP.L), opens new tab and TotalEnergies (TTEF.PA), opens new tab.

Shell said it would maintain ⁠the ​pace of its share buyback ​programme at $3 billion over the next three months.

Reporting by Stephanie ​Kelly and Shadia Nasralla, Editing by Louise Heavens

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Stephanie Kelly

Thomson Reuters

A London-based senior correspondent covering UK-listed energy companies including BP and Shell and energy developments in Europe, the Middle East and Africa.

Shadia Nasralla

Thomson Reuters

Writes about the intersection of corporate oil and climate policy. Has reported on politics, economics, migration, nuclear diplomacy and business from Cairo, Vienna and elsewhere.

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