Overview

• Shell reports a Q3 profit of $6.2B, driven by higher oil prices and strong liquefied natural gas trading, which offset a drop in its renewables division that posted a $67m loss.
• The company also announced a $3.5B share buyback program, which takes the total handed to investors since January up to $23B.
• Shell's decision to cut capital expenditure by about $2bn a year generated additional funds for dividends and has been linked to criticisms regarding the company's slow shift towards renewable energy.
• Shell is reportedly focusing more on fossil fuels, evident in its reduced investment in low-carbon activities by 30%, compared to the same period last year.
• Critics argue that Shell's reliance on volatile energy prices could pose risks if these prices start to retreat, as the company may be left without an additional revenue stream.