Overview
- Adjusted earnings reached $5.43 billion in Q3 2025, up 27% from the prior quarter but below the $6 billion recorded a year earlier.
- Shell will execute $3.5 billion of share buybacks over the next three months as part of its shareholder return program.
- Management pointed to improved trading margins and higher volumes, with standout performance in marketing and deepwater assets in the Gulf of America and Brazil.
- The quarter included a $161 million favorable tax write-off that was partly offset by higher depreciation, depletion and amortisation.
- The results follow October portfolio moves that included canceling the Rotterdam biofuels project with roughly $600 million in related impairment and a heightened focus on LNG.