Shell nearly doubles quarterly profit as refining margins hit record

· Energy · United Kingdom

Shell nearly doubled its quarterly profit year-on-year as refining margins soared to a record high, and the oil major hiked its share buyback programme. The company said geopolitical volatility and a refined products crunch drove energy and fuel prices sharply higher. The results show how tight refining capacity and disruptions linked to Middle East tensions are boosting earnings for integrated oil majors even as crude prices swing.

Why it matters：Record refining margins show how Middle East disruption is redistributing profits within the oil industry, with fuel consumers bearing higher costs.

Key points

  • Shell's quarterly profit nearly doubled year-on-year.
  • Refining margins hit a record high.
  • The company raised its share buyback programme.

Sources (original reporting)

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