# Shell profits up 25% in first three months of 2026 to $6.9bn (£5bn) Oil and gas production fell 4% due in large part to Middle East conflict.

*business · news · 2026-05-07 · ITV News*

## Key points

- Shell's Q1 2026 profits rose nearly 25% to $6.9 billion, driven by trading and refining margins.
- A key unit at Shell’s Pearl GTL plant in Qatar was damaged in March and will take a year to repair.
- Only about 10% of Shell's current investment is directed toward lower-carbon energy projects.
- Shell's CEO warns Europe's fuel supplies may face shortages due to continued Strait of Hormuz disruptions.
- The majority of Shell's windfall is being used for share buybacks and dividends, not renewables investment.

**Companies:** Shell
**Countries:** Qatar

[Read the full story on ITV News](https://www.itv.com/news/2026-05-07/shells-bumper-war-dividend-not-being-used-to-ramp-up-renewable-investments)

---

Canonical: https://newsio.io/n/3fcf047e-86a7-4e94-9806-fa6ce4b5b975/shell-profits-up-25-in-first-three-months-of-2026-to-6-9bn-5bn-oil-and-gas-produ
Summarized by Newsio from ITV News. https://newsio.io/how-it-works