Shell Reports $6 Billion Q3 Profit, Surpassing Expectations

The oil giant's strong gas performance offsets lower refining margins, prompting continued shareholder buybacks.

Shell's third-quarter adjusted profits were $6 billion, exceeding analyst forecasts of $5.4 billion.
The company announced a $3.5 billion share buyback, marking the twelfth consecutive quarter of significant buybacks.
Shell's integrated gas division saw profits rise to $2.9 billion, offsetting weaker performance in refining and oil trading.
Despite a decline in oil prices, upstream earnings increased to $2.4 billion, contributing to the overall profit beat.
CEO Wael Sawan is focusing on improving performance and capitalizing on profitable sectors like liquefied natural gas.