Shell Profits Halve Amid Falling Oil and Gas Prices

Shell reported $5.1 billion in adjusted earnings for Q2 2022, a 56% decrease compared to Q2 2021.
The decline was driven by lower oil and gas prices, weaker refining margins, and decreased LNG trading results.
Despite lower earnings, Shell raised its dividend by 15% and announced a $3 billion share buyback program.
Shell remains committed to shareholder returns while balancing investments in oil and gas as well as renewable energy.
Industry-wide, major energy companies have reported significantly lower earnings as commodity prices eased from their peaks.