Shell announced a $3 billion share buyback, its 19th consecutive quarter of at least $3 billion in repurchases. The British energy giant’s second‑quarter adjusted earnings climbed to $9.84 billion, up from $6.915 billion in the previous quarter, beating analysts’ estimate of $8.92 billion. The surge is largely driven by higher oil prices linked to the ongoing Middle East conflict, which has lifted margins across the group.

Shell also reported record upstream production in Brazil and record refinery utilization, both contributing to stronger cash flows. In its chemicals division, higher margins pushed adjusted earnings to the highest level since Q3 2021. The $3 billion tranche matches the May buyback, after a brief scale‑back from $3.5 billion.

With the conflict still inflating prices, Shell’s management indicated it will continue the buyback program, reinforcing shareholder value. The company’s robust performance underscores the resilience of major energy firms amid geopolitical turbulence.