Shell profits double as oil and gas prices jump amid Iran war

financeJul 30, 2026222,164

Royal Dutch Shell reported adjusted second-quarter earnings of $9.84 billion for April to June, more than double the $4.26 billion it earned in the same period last year and above an LSEG consensus of $8.79 billion and the company forecast of $8.92 billion. Shell said the result was driven by higher oil and gas prices amid the Iran war and by strong trading, refining and chemicals performance alongside production growth in Brazil. CEO Wael Sawan told CNBC that "volatility is the new normal" and credited outstanding operational performance and trading and optimization for the outcome. Shell will continue its share buyback program at $3 billion over the next quarter. London-listed Shell shares rose 1.5% on the day and the stock is up about 21% year to date, though it trails peers such as BP and TotalEnergies. Analysts and environmental groups renewed calls for a windfall tax to help households facing higher energy costs following the results. The quarter is Shell's strongest since Q2 2022, when the company reported $11.47 billion amid the price shock after Russia's invasion of Ukraine.

Zack Polanski

@zackpolanski.bsky.social

Whilst the cost of living crisis continues to spiral, with food and fuel prices soaring, so do global oil and gas companies profits. Shell has today announced it's profits have more than doubled. This is obscene. www.reuters.com/business/ene...

9714h ago

Peter Gordon 🇺🇦24

Happening while France and Spain are on fire, a situation the oil and gas giants have lobbied against preventing for decades.

Lee Thumwood22

Energy should not be for profit! It's an essential! The fact we've allowed our world to be run by people who care more about making even more ever extending "profits" over the wellbeing of people & the planet is all that's wrong with the world!

Paul Malyon10

Europe is burning and these guys rake in the cash. Governments do nothing and the Right suggest we should just sit back and have a siesta. The world is screwed and it's our own fault.

HAL9

Great to see Polanski addressing climate change again - as opposed to playground spats giving Farage 3 days of air time. Has he learnt anything?

Monty Dodge9

Maybe one day obscene greed will be declared a mental illness. If not, why not?

Osman Mrzljak8

Tree times more profit in war time comparing to peace time. When war is part of business model your biggest enemy is "big money".

Quoting this

Simon Rosenberg13

There are so many reasons why the current version of capitalism is killing us. 'War is good for business' is high on the list.

Claire #FBPE ☘️ 🍉 🇺🇦 🇪🇺🐝 🦮🇮🇪🇧🇪 💙💚7

This is so shocking! This payment to big companies is still continuing!! How can this be when people are so outraged? How can the government still be ignoring us? Perhaps I need to give our new PM more time? However, I want to see real change - not tinkering at the margins!

Penncat5

It’s a good day for the electrician to sort our solar panels. (I’m hoping saying this will make him come.) Seriously, though, we need a green energy revolution, with resources being pushed into moving away from fossil fuels and into a booming green energy job market.

Robin A Weston5

AND 😠‼️ With wild fires raging in Europe and elsewhere on the planet, together with more flooding. All attributed to global warming mainly caused by fossil fuels. People rise up they are killing you and the planet. #GreenSky #Environment #FossilFuels #Earth #Wildfires @greenpeace.org

𝓕𝓲𝓻𝓮𝔂 𝓣𝓸𝓹𝓪𝔃5

THERE SHOULD NOT BE A COST JUST TO BE ALIVE.

Mapolino4

It’s beyond obscene. Past beyond that.

Neil Davies Illustration4

It just never ends does it

Dr Alan Nixon4

#ClimateCriminals profiting from destroying your future.

Phil M 🦻🏼💚 🍉 🏳️‍⚧️ 🇵🇸3

THERE IS NO MONEY! That's the second biggest lie after 'I have read the Terms and Conditions'. There is money; it's being extracted by multimillionaires, offshore hedge funds, and giant corporates like Shell. Vote for change, not just for Starmer Pt II. #VoteGreen :: join.greenparty.org.uk :: 💚

Oli Mould3

There's a reason why 'Capitalocene' is more appropriate to describe our age than 'Anthropocene' because humans aren't the problem, capitalism is.

Marisa Kabas

@marisakabas.bsky.social

oil and gas companies profit off of human suffering and environmental ruin and their executives should all be tried at the hague 🫶

9103h ago

Rue8

Can we add insurance execs? Their business model requirements human suffering

Brad Simpson3

Wait, how did you just come up with one of the slogans that all Democratic candidates in 2026 should be running on?

Horn Slack2

Hey, remind me why these oil companies get government subsidies again? Every dollar of revenue should pay back subsidies.

billtbns.bsky.social1

And governments allow it without a second thought.

proftom.bsky.social1

Can you say coverup? www.scientificamerican.com/article/exxo...

Stoley1

They don’t have to pay taxes and they’re making huge profits. Trump did that.

Quoting this

Bread and Rosie8

This is where fuel subsidies go. When fuel prices are high, even many on the left demand that governments just subsidise more. All this does is outbid poorer countries for a resource they need too, inflate prices further & line companies' pockets. Reducing demand for fossil fuels is the only answer.

Natty🇺🇸🇺🇦🇨🇦🏐🏈🐕🐴📎8

While we are deciding between food and gas, they are making record profits. #Blues

Jacob Souva3

We can push to adopt solar and wind and batteries and make war profiteering over oil something our children read about and our proud to have overcome

Patrick Galey

@patrickgaley.bsky.social

Shell, a UK company, made $9.8 billion profit in three months and you're telling me we can't afford $850 million to help the most vulnerable households keep their heating on over winter? www.ft.com/content/dacf...

905h ago

Dean Obeidallah

@deanobeidallah.bsky.social

NY Times headline this AM: "Mideast teeters on brink of Expanded war." Trump and Netanyahu's war is now involving Iraq, Egypt, the Gulf States and Iran. This is 100% because of the GOP refusing to stop Trump and Netanyahu. If you thought gas prices/inflation were bad last month just wait!

593h ago

Kauai Dreams1

The reserve supply being reieased to artificially keep petrol prices down are rapidly dwindling. Affordability, such a quaint notion. Psychopathy, mental illness and incompetence as foreign policy. Time to pay the piper...

Damian Carrington

@dpcarrington.bsky.social

Shell’s [war] profits more than doubled to $10bn in Q2 - "Shell takes the profits, and the rest of us pick up the catastrophic bill” says Greenpeace #climatecrisis www.theguardian.com/business/202...

285h ago

Quoting this

Michael Burchert4

Reminder. In 1995, the public held Shell in a stranglehold over the BRENT SPAR. After that, elected politicians opted for slow reduction targets, free CO₂ emission allowances, subsidised gas + oil heating systems, laissez faire energy efficiency targets, new combustion-engine vehicles + war crimes.

Greenpeace International 🌍

@greenpeace.org

Shell profits rise 70% on the back of war. We're running out of words to describe the obscenity of these numbers.

182h ago

Diane

@dianesf.bsky.social

Shell has made more than they expected. From April to June they made $9.84 billion they expected to make $8.79 billion. With all these profits they did it to a $3 BILLION SHARE BUY BACK THEY DID NOT PAY WORKERS MORE NOPE WE NEED TO GET THE GREED OUT The people suffer they profit

123h ago

Fossil Free London

@fossilfreeldn.bsky.social

BREAKING: Shell made a staggering £7.4BN in profits over just the last 3 months. Those are three months where we have been hit by one heatwave after another as the world burns under wildfires 🔥 🔥 🔥 🔥This is not normal 🔥The heat is not normal 🔥The fires are not normal

93h ago

Dr Paul Dorfman

@drpauldorfman.bsky.social

Shell’s profits more than double after jump in oil and gas prices. Environmental groups renew calls for windfall tax to support households following Q2 earnings rise to $9.84bn. www.theguardian.com/business/202...

83h ago

Ken Bazinet

@kenbazinet.bsky.social

The average price of a gallon of gas in the U.S. today is $4.10, AAA reported. The average price of a gallon of gas two days before Trump and Netanyahu attacked Iran was $2.98. The Times breaks it down by states. #IranWar #GasPrices #InflationNation

63h ago

New Economics Foundation

@neweconomics.bsky.social

Oil and gas companies are raking in billions while our countryside burns. Half of England in drought on the same day that Shell reports that its profits have DOUBLED this quarter. Extreme weather like this will only get worse unless we kick our dependence on fossil fuels.

74h ago

B heard media 💚🇵🇸

@bheardmedia.bsky.social

📈 Shell more than doubled its profit in its second quarter of the year. It's net profit hit £7.4bn, more than double compared with the same period last year. 🟢 "Shell takes the profits, and the rest of us pick up the catastrophic bill.” - Greenpeace #AndyBurnham ⤵️ #WindfallTaxNow ✅️

75h ago

Sodham Hall Jackie 🐝

@jackiecarroll.bsky.social

Our local garage has increased their petrol price by 10p a litre in just under a week. In other unrelated news, Shell are about to announce 70% increase in profits. #CorporateGreed #Profiteering

82h ago

Friends of the Earth

@friends-earth.bsky.social

"These profits have been built on an energy crisis that's left households across the country struggling with high energy bills at home and expensive fuel at the pumps. This underlines the urgent need to end our dependence on costly oil and gas." - Danny Gross, FoE. www.bbc.co.uk/news/article...

32h ago

Phil M 🦻🏼💚 🍉 🏳️‍⚧️ 🇵🇸

@phillm.bsky.social

THERE IS NO MONEY! "UK oil major reported $9.8bn in adjusted earnings ... and up from $4.3bn in the same quarter last year. It was the second-highest quarterly earnings for Shell, behind only the $11.5bn made in 2022 after Russia’s full-scale invasion of Ukraine" giftarticle.ft.com/giftarticle/...

34h ago

3 sources

theguardian.comShell’s profits more than double after jump in oil and gas prices cnbc.comShell posts best quarterly profit in four years as Iran war boosts oil and gas prices nytimes.comHow High Are Gas Prices Where You Live?

Shell profits double as oil and gas prices jump amid Iran warfinance

Shell profits double as oil and gas prices jump amid Iran war

Related