Energy Economy

28 Jul 2022

Shell Reports Record Profit of $11.5 Billion

28 Jul 2022  by   

General view of a Shell petrol station sign in Milton Keynes, Britain, January 5, 2022. REUTERS/Andrew Boyers/File Photo GLOBAL BUSINESS WEEK AHEAD

Shell on Thursday reported a profit of $11.5 billion for the second quarter, beating expectations, lifted by strong refining profits and energy prices.

The company also announced a share buyback programme of $6 billion in the third quarter.

Second-quarter adjusted earnings rose to $11.47 billion, above the $11 billion forecast by analysts in a poll provided by the company. It posted a profit of $5.5 billion a year earlier and of $9.1 billion in the first three months of 2022.


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