Shell nearly doubles quarterly profit to $10.8bn
Shell made $10.8bn (€9.7bn) in the third quarter and TotalEnergies $9.1bn (€8.2bn), both roughly double a year earlier, with high refining margins behind the gains.
Shell roughly doubled its third-quarter profit to $10.8bn (€9.7bn), against $5.4bn in the same period last year. The company put the gain down to high refining margins, which hit a record level at the group.
French rival TotalEnergies reported a net profit of $9.1bn (€8.2bn) for the quarter, up from $4bn a year earlier. The company said it is profiting "optimally" from the high refining margins in the world.
Analysts had expected Shell to make $10.3bn (€9.2bn). The twelve analysts polled for TotalEnergies by the London exchange expected $8.3bn. Shell chief executive Wael Sawan spoke of very strong results.
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