Shell Q2 Income Up 128% Y-o-Y on Crude Prices, Trading


   
Barani Krishnan
DTN Refined Fuels Market Reporter

   SECAUCUS, NJ (DTN) -- Shell reported on Thursday (7/30) a 128% year-on-year 
surge in adjusted earnings for the second quarter of 2026, driven by higher 
realized prices and stronger trading contributions.

Adjusted earnings reached $9.8 billion in the quarter, compared to $6.9 billion 
in the prior quarter and $4.3 billion a year ago.Higher realized oil and gas 
prices, alongside solid trading performance in LNG and crude, boosted segment 
earnings across Upstream and Chemicals and Products.Total oil and gas 
production in Upstream averaged 1.82 million boe/d, down slightly from 1.84 
million boe/d in Q1 2026 due to maintenance.Integrated Gas total production 
dropped 31% quarter-on-quarter to 631 thousand boe/d, primarily reflecting the 
impact of the Middle East conflict on Qatari volumes.Refinery utilization 
surged to 102% in the second quarter, up from 99% in the prior quarter and 94% 
a year ago.


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