Shell reports $9.8B quarterly profit

Shell achieved record quarterly profits of $9.84 billion in the second quarter, more than doubling compared to the same period last year, driven by rising oil and gas prices and increased market volatility resulting from the war in the Middle East. These profits came as the company benefited from market disruptions and supply chain disruptions, especially in Qatar, despite a 31% decrease in production in some regions. Shell recorded its highest cash flow from operations since 2022, with profits in the integrated gas sector—which includes the world's largest liquefied natural gas trading activity—reaching $2.7 billion, a 55% increase compared to the same period last year. These results are the second-highest quarterly profits in the company's history, after those of Q2 2022, with expectations of continued market volatility and the war's impact on the company's performance.

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