LONDON — Energy giant Shell has reported adjusted profits of almost US$7 billion for the first quarter of 2026, benefiting from increased volatility in global oil and gas markets linked to the ongoing conflict involving Iran.
The company announced earnings of approximately US$6.9 billion, exceeding market expectations and marking one of its strongest quarterly performances in recent years.
Shell said higher oil prices and strong trading activity contributed significantly to the results as tensions in the Middle East disrupted global energy markets. The conflict involving Iran pushed crude oil prices sharply upward earlier this year, boosting revenues for major energy producers.
In addition to the earnings announcement, the company revealed a five per cent increase in shareholder dividends while continuing its share buyback programme.
Despite the strong financial performance, Shell also disclosed that some of its operations were affected by instability in the region, including damage to its Pearl gas facility in Qatar and reduced gas production levels.
Environmental groups and climate advocates have criticized the company’s earnings, arguing that rising profits linked to geopolitical tensions continue to place additional pressure on consumers already facing high energy costs.
Shell maintained that its results reflected strong operational performance during a period of significant uncertainty across international energy markets.
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