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Shell Posts $9.84 B Q2 Profit Amid Qatar Plant Shutdown

7/30/2026

43 5 Full Breakdown

Summary

Shell Posts Record

Shell Plc reported adjusted net income of $9.84 billion for Q2, its highest in four years.
Product earnings rose more than 700% year-on-year as fuel prices and trading surged.
Refinery utilization reached 102% with jet fuel output up 20% from the prior quarter.
Integrated gas profit climbed to $2.7 billion, a 55% jump, while chemicals and products earned $2.3 billion.

Summary

Shell Shuts Qatar

Shell shut its Qatar LNG plant in early March because the Iran-Israel war forced the closure.
A missile strike in March badly damaged the Pearl gas-to-liquids facility in Qatar, with repairs expected to take about a year.
Gas output fell to 631,000 boe/d in Q2, down from 909,000 boe/d in Q1, contributing to a 16% drop in total oil and gas production in the first half of 2026 versus 2025.

History

Historical Context

In October 1973 OAPEC, led by Saudi Arabia, embargoed the United States and other Israel supporters, pushing oil prices up nearly 300% by March 1974. Shell’s 2026 profit jump, driven by Iran-Israel hostilities that closed Qatar’s LNG plant and cut gas output about 30%, mirrors that shock, prompting firms to diversify and governments to tighten energy security.

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Shell Posts Record

Shell Plc reported adjusted net income of $9.84 billion for Q2, its highest in four years.
Product earnings rose more than 700% year-on-year as fuel prices and trading surged.
Refinery utilization reached 102% with jet fuel output up 20% from the prior quarter.
Integrated gas profit climbed to $2.7 billion, a 55% jump, while chemicals and products earned $2.3 billion.

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