(RTTNews) - Oil and gas major Shell Plc (SHEL, SHELL.AS, SHEL.L) reported Thursday a marked rise in second-quarter profit, supported chiefly by stronger realized prices, though partly offset by reduced volumes stemming from Middle East conflict effects on Qatari output and narrower Lubricants margins.

Shell also launched a fresh share repurchase initiative totaling $3.0 billion in new buybacks together with $1.2 billion carried over from the prior program. The effort is slated for completion ahead of the third-quarter 2026 results release. The company had paused its earlier $3.0 billion plan in June.

Income before taxation climbed to $15.75 billion from $5.98 billion a year earlier. Net income attributable to Shell shareholders jumped to $10.82 billion versus $3.60 billion previously. Earnings per share advanced to $1.92 from $0.60.

Results incorporated a net gain of $0.4 billion, reversing a net loss of $2.4 billion in the prior period.

Adjusted earnings reached $9.84 billion compared with $4.26 billion. Adjusted earnings per share stood at $1.76 versus $0.72.

Adjusted EBITDA rose to $20.71 billion from $13.31 billion.

Total revenue and other income increased to $96.35 billion from $66.44 billion. Revenue alone totaled $94.66 billion against $65.41 billion.

Oil and gas production available for sale fell to 2,455 thousand boe/d from 2,682 thousand boe/d.

For the third quarter, Integrated Gas output is projected at roughly 570-630 thousand boe/d while LNG liquefaction volumes are seen at 7.1-7.7 million tonnes. The outlook excludes contributions from ARC Resources Ltd. and Qatar.

Upstream production is forecast at 1,680-1,880 thousand boe/d. Marketing sales volumes are expected between 2,550-2,750 thousand b/d.

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