Quarterly figures

Shell also posts higher profit thanks to oil market turmoil caused by Iran conflict

De winst van Shell in het eerste kwartaal van 2026 bedroeg 6,9 miljard dollar ten opzichte van 3,3 miljard dollar in het vierde kwartaal van 2025. Foto: Shutterstock

British oil and gas company Shell has significantly doubled its profit in Q1 2026 compared to Q4 2025.

Shell’s profit in Q1 2026 was $6.9 billion compared to $3.2 billion in Q4 2025 (+109 per cent). Shell had previously announced significantly higher oil results due to the turmoil in the energy market caused by the war in the Middle East. BP also earlier reported higher profits thanks to strong oil trading due to Iran war

Total revenue rose to over $70 billion from $66.7 billion in the previous quarter. Shell chief executive Wael Sawan commented on strong results in a quarter marked by “unprecedented disruption” in global energy markets.

Shell’s profit is higher than analysts had expected. Yet the energy group is also feeling the effects of war. In March, a major Shell energy facility in Qatar was damaged in an Iranian attack. This caused a fire at a plant producing liquid fuels from natural gas. According to Shell, repairing the plant could take about a year. The damage and repairs were expected to cost the company about $500 million.

Shell last month bought Canadian oil and gas company ARC Resources for $13.6 billion. That is the largest acquisition deal for Shell in more than a decade.

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This article was automatically translated from the Dutch language original to English (British).

Author: Nina Koelewijn

Source: MobilityEnergy.com

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