Shell PLC on Thursday announced a new $3 billion share repurchase program, at par with the prior package.The British energy giant said that is on top of $1.2 billion remaining from the previous plan after that plan had been suspended in connection with its agreement to acquire Canada’s ARC Resources Ltd at an equity value of around $13.6 billion.Shell maintained its quarterly dividend at $0.3906 per share.For the April-June 2026 quarter Shell logged $1.76 in adjusted net profit per share, or $9.84 billion – calculated as net profit on a current-cost-of-supplies basis minus nonrecurring items. That is up from $6.92 billion for the prior three-month period and $4.26 billion for Q2 2025.
Shell reported quarter-on-quarter increases in realized liquids and gas prices. The higher prices offset declines in Integrated Gas segment production (639,000 barrels of oil equivalent a day in Q2 vs 909,000 boed in Q1) and upstream production (1.82 million boed in Q2 vs 1.84 MMboed in Q1).
“Adjusted earnings, compared with the first quarter 2026, reflected higher realized prices, higher LNG trading and optimization, favorable tax movements, higher chemicals margins and higher crude and oil products trading and optimization”, Shell said.”These were partly offset by lower volumes, mainly due to the impact of the Middle East conflict on Qatari volumes, and lower Lubricants margins”.”Total production, compared with the first quarter 2026, decreased mainly due to higher maintenance activities, partly offset by new oil production in Brazil and the Gulf of America”, it noted.Gas liquefaction volumes slid to 7.73 million metric tons (MMt) in Q2 from 7.86 MMt in Q1. LNG sales fell to 17.96 MMt from 19.16 MMt.Marketing sales, which include Shell’s mobility and lubricants operations, dropped to 2.57 million barrels per day (MMbpd) in Q2 from 2.63 MMbpd in Q1.
Sales in the Chemicals and Products segment, which includes the production and marketing of chemicals and refined oil products, increased to 2.28 MMt in Q2 from 2.25 MMt in Q1. Shell posted a 102 percent refinery utilization rate in Q2, while processing intake also rose to 1.27 MMbpd from 1.22 MMbpd.Q2 revenue totaled $94.66 billion, compared to $69.69 billion for Q1. Adjusted EBITDA increased to $20.71 billion for Q2 from $17.74 billion for Q1. Cash flow from operations soared to $21.43 billion for Q2 from $6.06 billion for Q1.Net debt decreased to $41.75 billion. Gearing stood at 18.7 percent, compared to 23.2 percent at the end of Q1. Cash and cash equivalents totaled $31.37 billion.