Shell tops profit estimates as Iran war boosts oil price, cuts share buybacks https://www.cnbc.com/2026/05/07/oil-giant-shell-tops-quarterly-profit-estimates-as-iran-war-drives-price-surge.html?&qsearchterm=shell Posted by kootles10
kootles10 on May 8, 2026 2:16 am From the article: Oil giant Shell posted bumper profit of $6.92 billion through the first quarter as the Iran war sent fossil fuel prices soaring. The London-listed energy major cut the pace of its quarterly buyback to $3 billion, down from $3.5 billion. The earnings come shortly after Shell announced an agreement to buy Canadian energy company ARC Resources in a deal valued at $16.4 billion. Shell reported adjusted earnings of $5.58 billion over the same period a year ago and $3.26 billion over the final three months of 2025.
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From the article:
Oil giant Shell posted bumper profit of $6.92 billion through the first quarter as the Iran war sent fossil fuel prices soaring.
The London-listed energy major cut the pace of its quarterly buyback to $3 billion, down from $3.5 billion.
The earnings come shortly after Shell announced an agreement to buy Canadian energy company ARC Resources in a deal valued at $16.4 billion.
Shell reported adjusted earnings of $5.58 billion over the same period a year ago and $3.26 billion over the final three months of 2025.