LONDON (Reuters) – Shell reported an adjusted profit of $6.2 billion (5.85 billion euros) in the third quarter on Thursday, in line with expectations, thanks to higher margins in the refining and good performance in liquefied natural gas (LNG) trading.
The company announced a $3.5 billion share buyback program over the next three months, up from $2.7 billion over the previous three months.
Shell’s adjusted profit of $6.22 billion was broadly in line with analysts’ forecasts of $6.25 billion according to the company’s consensus. The energy company recorded a quarterly profit of $5 billion in the previous quarter and $9.45 billion a year ago.
“Shell delivered another quarter of strong operational and financial performance, seizing opportunities presented by the volatile commodities market. We continue to simplify our portfolio while delivering more value with fewer emissions,” said the CEO. , Wael Sawan, in a press release.
(Reporting Ron Bousso and Shadia Nasralla; Lina Golovnya, edited by Blandine Hénault)
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