Shell reports a sharp rise in earnings and profits for the second quarter and half-year period, with results attributed to oil price volatility and higher prices linked to the Iran war and broader Middle East disruption. Multiple outlets say Shell’s adjusted earnings for the three months to the end of June reach about $9.84 billion (around £12.55–£12.6 billion in reported figures), after a much lower figure in the same period last year. One report says the company’s second-quarter profit is more than £7 billion, while others describe the quarterly result as more than double the prior year and among the company’s strongest on record. The Globe and Mail and Quartz add that the second-quarter profit is among Shell’s highest, and that the move reflects the impact of conflict-driven price increases. Separately, one source also references BP reporting strong gains in the same context, citing higher oil and gas prices tied to the Middle East crisis. Overall, the coverage consistently links Shell’s improved results to energy market conditions created by the Iran war rather than to a single operational change.
Shell profits surge in half-year results as Iran war drives oil price volatility
Shell reports a sharp rise in earnings and profits for the second quarter and half-year period, with results attributed to oil price volatility and higher prices linked to the Iran war and broader Mid...
- Shell’s second-quarter adjusted earnings are reported at about $9.84 billion (around £12.5–£12.6 billion).
- Shell’s profits/earnings for the period are more than double the same quarter last year, according to multiple outlets.
- The increase is attributed to oil price volatility and higher oil and gas prices linked to the Iran war and wider Middle East disruptions.
- At least one outlet describes the second-quarter result as one of Shell’s highest on record.
- One outlet also notes BP reports strong quarterly profits in the same period, citing similar price pressures from the Middle East crisis.
Energy company’s $5.73bn quarterly profits come after Shell posted second highest quarterly earnings on recordBusiness live – latest updatesBP has reported its highest quarterly profits since the first year of Russia’s war on Ukraine because of rising oil and gas prices caused by the Middle East crisis.The oil company’s quarterly profits more than doubled to $5.73bn (£4.27bn) in the three months to the end of June, up $2.5bn from the quarter before, as the ongoing conflict in the Middle East continued to disrupt energy exports from the Gulf. Continue reading...
1 month agoShell posted adjusted earnings of $9.84 billion in the second quarter, its best result since mid-2022, as the Iran war drove up prices
1 month agoSecond-quarter profit was the company’s second-highest on record
1 month agoThe FTSE 100 giant saw underlying earnings jump to 16.75 billion US dollars (£12.55 billion) after a 9.84 billion haul in the second quarter.
1 month agoThe second quarter result was also more than double the £3.19billion the group posted for the same period last year
1 month ago
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