Shell profits double to $10.8bn as Iran war pushes up profit margin on oil

Energy firm to return $5bn to shareholders as climate campaigners criticise high profits

Shell has doubled its profits in the last quarter after the Middle East conflict drove up the price of oil and gas and created shortages in the global market.

Shell reported on Thursday morning that it made an adjusted profit of $10.8bn (8.1bn) in the July-September quarter, up from $5.432bn in the third quarter of 2025. The results beat analyst expectations for a rise to $10.33bn.