Shell Posts $6.9 Billion Q1 Profit Surge Amid Iran War
Trading and refining margins helped Shell beat analyst expectations as production disruptions in Qatar cut output by 4%.
- Shell reported underlying first-quarter earnings of $6.92 billion on Thursday, more than double the prior quarter and 24% higher year-on-year. Chief Executive Wael Sawan credited relentless operational focus during unprecedented market disruption.
- Surging Brent crude, jet fuel, and gas prices linked to the Iran war drove the profit surge. Regional attacks in March halted production at Shell's PearlGTL site in Qatar and disrupted shipping in the Strait of Hormuz.
- Shell announced $3 billion in share buybacks and a 5% dividend increase for shareholders. The company recently agreed to a $16.4 billion deal acquiring Canadian energy firm ARC Resources, which Sawan said will "deliver value for decades to come."
- Shell's chemicals and products division saw underlying earnings more than quadruple to $1.93 billion from $449 million a year earlier. Rival BP reported strong first-quarter profits of $3.2 billion last week, capitalizing on volatile trading conditions.
- Campaigners warn households face higher energy bills, intensifying political scrutiny of energy-sector returns. These concerns arise ahead of the July 1 price-cap update, which could shape future regulatory responses to Shell's financial results.
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119 Articles
Shell Pumps Out Banner Profits Despite Iran War’s Seismic Upheaval
As it turns out, “unprecedented disruption” is not inherently bad for business. At least for Shell, which used the term to describe the Iran War’s impact on global energy markets in its first-quarter earnings report on Thursday, where it also revealed a whopping $6.9 billion in profit. As if you needed any reminder that there was someone on the other side of $120 barrels of oil. Inside Strait While Shell is exposed to wartime disruption, it’s no…
In the course of the Iran war, Shell, the world's largest oil company, speaks of an "unprecedented disruption" – and increases its profits by more than a quarter. Consumers, on the other hand, have to adjust to permanently high prices – while US President Trump triumphs.
Foreign oil company profits double with assist from Trump's moves: NYT
Major energy companies are reaping enormous profits from the ongoing Strait of Hormuz stalemate triggered by Donald Trump's war on Iran, with European oil giants reporting dramatic earnings surges while American producers sit on the sidelines, the New York Times is reporting.British energy giant Shell reported robust first-quarter profits Thursday, with adjusted earnings soaring 24 percent to $6.92 billion — more than twice what the company earn…
Shell reports nearly $7 billion profit amid 'unprecedented disruption'
British energy giant Shell sees profits soar as oil prices spike due to U.S.-Israel war with Iran, impacting global energy markets and prompting renewed calls for windfall taxes on oil profits.
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