Shell Profit Surges to $9.8 Billion on Oil Trading and Refining Gains
Earnings·2 articles across 2 outlets
Story updated Rewritten when the story materially grows; the wire is checked every 15 minutesAbout this data
Shell Plc reported a second-quarter profit of $9.84 billion, the highest since the outbreak of the Ukraine war. The surge in earnings was driven by higher oil and gas prices, record refinery utilization, and strong trading, exceeding analyst expectations.
The conflict in the Middle East has contributed to a boom in trading and refining for energy majors like Shell. The company's earnings more than doubled compared to the same quarter last year, reflecting the robust performance in the energy sector.
Shell
Sources
Every quote below is verbatim from the article it is attributed to.
SourceReports the news
“Shell Plc said its second-quarter profit soared to the highest since the outbreak of the Ukraine war as conflict in the Middle East drives a boom in trading and refining for the world’s energy majors.”
Bloomberg — Shell Profit Surges to $9.8 Billion on Oil Trading and Refining Gains“Shell (SHEL:NYSE) more than doubled its second-quarter earnings from a year earlier, as higher oil and gas prices, record refinery utilization, and strong trading boosted profits to above analyst expectations.”
oilprice — Shell Reports $9.8 Billion in Adjusted Earnings as Energy Prices Surge