{"id":62600,"title":"Shell reports $10.8bn profit and announces $5bn buyback","publisher":"Stockmark.IT","author":"Stockmark.IT Website","published":"2026-10-30T07:17:44+00:00","modified":"2026-10-30T07:17:44+00:00","canonical_url":"https://stockmark.it/relentless-shell-reveals-10-8bn-profit-in-third-quarter/","markdown_url":"https://stockmark.it/relentless-shell-reveals-10-8bn-profit-in-third-quarter.md","json_url":"https://stockmark.it/relentless-shell-reveals-10-8bn-profit-in-third-quarter.json","category":"Business","categories":["Business","Companies","Energy"],"featured_image":"https://i0.wp.com/stockmark.it/wp-content/uploads/2026/10/shell-reports-10-8bn-profit-and-announces-5bn-buyback.png?fit=1536%2C1024&quality=80&ssl=1","format":"news","language":"en-GB","content":"Shell has reported adjusted earnings of $10.8bn for the third quarter, exceeding market expectations and rising from $9.8bn in the previous period. The oil and gas major attributed the increase to strong operational performance, which it stated was achieved despite continued severe disruption to the global energy system caused by the war in the Middle East. Following the results, the company announced a $5bn share buyback programme to be executed over the next three months.\n\nThe quarter featured significant strategic moves focused on Canada and liquefied natural gas. Shell completed the acquisition of Canadian independent shale gas producer Arc Resources for $22bn. It also reached a final investment decision on the second phase of the LNG Canada project. This expansion will double the facility’s production capacity from 14 million tonnes per annum to 28 million tonnes per annum. As a 40% partner in the venture, Shell expects to receive nearly six million tonnes per annum of additional output, with commercial operations anticipated to commence in the early 2030s. Additionally, the firm recently secured a 30% stake in the Bay du Nord offshore oil and gas scheme in Canada, a position previously held by BP before it sold its interest back to Equinor.\n\nConversely, Shell has continued its retreat from renewable energy assets. In July, it agreed to sell its Indian solar business, Solenergi Power Private Limited, which includes the Sprng Energy group, to Aditya Birla Renewables Limited for $1.8bn. A separate agreement reached in August involves the sale of its European onshore renewables portfolio, covering operational and development-stage assets in Italy, the Netherlands, Spain and the United Kingdom. Both transactions are expected to conclude by the end of 2026. Chief Executive Officer Wael Sawan stated that the company’s relentless focus on operational performance enabled strong results, allowing it to further invest in its integrated gas business while returning capital to shareholders."}