Shell Profits Nearly Double to $10.8 Billion as Refining Margins Hit Record

Record refining margins and higher LNG and gas prices boosted Shell’s third-quarter earnings to over $10.8 billion, nearly double compared to the same period last year, as the Middle East crisis squeezed fuel supplies and hiked oil and gas prices. Shell on Thursday reported adjusted earnings of $10.814 billion for the third quarter, the highest since 2022, almost double the $5.432 billion earnings a year ago. The third-quarter earnings “reflect strong operational performance in a continued volatile and elevated commodity…