Shell reported second-quarter adjusted earnings of $9.84 billion. This figure more than doubled the $4.26 billion earned during the same period last year. The results exceeded analyst expectations of $8.92 billion.
Higher oil and gas prices drove the strong performance. Robust LNG and oil trading alongside improved chemicals margins contributed to the growth. The company achieved these results despite Middle East conflict disruptions to Qatar operations.
Shell will launch a $3 billion share buyback program over the next three months. Cash flow from operations reached $21.4 billion for the quarter.