# Adjusted profits rose by 23 per cent year on year to $6.9 billion over the first quarter.

*business · news · 2026-05-07 · The Sunday Times*

## Key points

- Shell's adjusted profits rose 23% year-on-year to $6.9 billion, beating analyst forecasts.
- Shell's Pearl gas-to-liquids facility in Qatar was attacked and has ceased production, with repairs expected to take a year.
- Shell's gas production is set to decline to between 580,000 and 640,000 barrels a day next quarter.
- Shell agreed to acquire Arc Resources for $16 billion, its largest acquisition in a decade.
- Shell's proven reserve life dropped to less than eight years, its lowest since 2021.

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

[Read the full story on The Sunday Times](https://www.thetimes.com/business/companies-markets/article/shell-profits-more-than-double-amid-iran-war-volatility-vrclm2qvj)

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