# Shell’s quarterly profit more than doubles as Iran war lifts energy prices

- URL: https://talkfuse.com/story/shell-profits-double-to-10-8bn-as-iran-war-pushes-up-profit-margin-on-oil/
- Published: 2026-10-29T08:00:37+00:00
- Updated: 2026-10-29T08:18:17+00:00
- Original publisher: The Guardian (publisher lean: Left)
- Original article: https://www.theguardian.com/business/2026/oct/29/shell-profits-double-iran-war-pushes-up-profit-margin-on-oil
- Topics: Art, Business, Climate, Culture, Elections, Middle East, Politics, Science, World

## Key points

- Shell’s quarterly profit doubled to $10.8bn.
- Refining margins climbed to $42 per barrel.
- The company plans $5bn in share buybacks.

## Summary

Shell’s adjusted profit more than doubled to $10.8bn in July to September, as the Iran war disrupted energy supplies and raised oil and gas prices. The result beat analysts’ expectations and prompted the company to increase planned shareholder returns, while climate campaigners criticised the windfall.

Shell plans to buy back $5bn of shares over the next three months, up from $3bn in the previous quarter. Refining margins rose to $42 per barrel, compared with $24 in the second quarter, as damage to refineries tightened supply; meanwhile, Shell’s gas output fell by a third from its prewar level of 900,000 barrels of oil equivalent a day.

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Summarised by TalkFuse (https://talkfuse.com/). Quote the original publisher for the reporting and link this page for the summary and discussion.