Overview
- Shell, which reported Thursday, logged adjusted earnings of $6.92 billion that beat forecasts after oil and gas prices jumped when the Strait of Hormuz was disrupted.
- The company cut share buybacks to $3 billion for the next three months and raised the dividend 5% to $0.3906 per share, while advancing a $16.4 billion ARC Resources acquisition.
- Operations were hit in Qatar, where the Pearl gas‑to‑liquids site shut after a March attack and repairs are expected to take about a year.
- Shell warned second‑quarter production will fall further because of Qatar outages and planned maintenance, with guidance pointing to weaker integrated‑gas volumes.
- Campaigners criticized the results as war‑driven windfalls and urged tougher windfall taxes as households face higher fuel and energy costs.