# Oil giant reported underlying earnings of 6.92 billion US dollars (£5.09 billion) More than double the result in the previous three months and 24% higher on a year ago.

*business · news · 2026-05-07 · LBC*

## Key points

- Shell reported underlying earnings of $6.92 billion, surpassing analysts' forecasts for the first quarter.
- Shell's chemicals and products division saw earnings more than quadruple to $1.93 billion from $449 million.
- Despite attacks disrupting its Qatar operations, Shell did not take an impairment charge this quarter.
- Shell agreed to a $16.4 billion deal to acquire Canadian energy firm ARC Resources.

**Companies:** Shell, BP
**Countries:** Iran, Qatar, Canada

[Read the full story on LBC](https://www.lbc.co.uk/article/b8872f5acf084dd7a7e641af66540924-5HjdYp2_2/)

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