Shell Records Highest Quarterly Profit in Four Years Amid Rising Oil Prices

British energy company Shell announced a strong profit of $9.84 billion for the second quarter of this year. This result is better than expected because of rising oil and gas prices during ongoing conflicts in the Middle East.

This profit, reported for April to June, surpassed analyst predictions of $8.79 billion. Last year, Shell earned $4.26 billion in the same period and $6.92 billion in the first quarter of this year. This is Shell’s best result since mid-2022 when earnings reached $11.47 billion after the conflict in Ukraine started.

Shell’s CEO, Wael Sawan, noted that “volatility is the new normal” in the energy market. He explained that Shell aims to perform well despite these changes. The company focuses on excellent operational performance and strong trading to achieve its results.

Shell plans to continue buying back shares, maintaining a programme worth $3 billion in the next quarter. The company also reported significant cash flow from operations of $21.4 billion and reduced its net debt to $41.75 billion.

Shares of Shell rose 1.5% on Thursday. The stock is up about 21% this year, although it still trails behind some other energy companies like BP and TotalEnergies.

How much do you know?

What was Shell's profit for the second quarter of this year?

$8.79 billion

$9.84 billion

$6.92 billion

$4.26 billion

Which CEO stated that 'volatility is the new normal' in the energy market?

Ben van Beurden

Wael Sawan

Daniel Yergin

Andrew Mackenzie

What is the value of Shell's share buyback program for the next quarter?

$1 billion

$2 billion

$3 billion

$4 billion

How much cash flow from operations did Shell report?

$21.4 billion

$11.47 billion

$8.79 billion

$4.26 billion

What was Shell's net debt after reductions?

$41.75 billion

$9.84 billion

$3 billion

$21.4 billion

By how much did shares of Shell rise on Thursday?

1.5%

2.0%

3.5%

0.5%

Shell's profit for the second quarter was lower than expected.

True False

Last year, Shell earned $6.92 billion in the second quarter.

True False

Shell plans to increase its net debt in the coming quarter.

True False

The current share buyback program is worth $4 billion.

True False

Shell's stock is up approximately 21% this year.

True False

Shell's best result since mid-2022 was in the second quarter of this year.

True False

Shell's profit for the second quarter was billion.

Last year, Shell earned billion in the same period.

Shell aims to perform well despite these .

The company reported significant cash flow from operations of $ billion.

Shell reduced its net debt to $ billion.

The stock is up about % this year.

This question is required