# FTSE 100 firm 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 analyst expectations by $560 million.
- Shell's chemicals and products division saw underlying earnings quadruple year-on-year to $1.93 billion.
- Quarterly share buybacks were reduced to $3 billion, causing Shell's shares to fall 2%.
- Shell's Pearl GTL site in Qatar stopped production in March after sustaining missile damage, with repairs expected to take a year.
- Shell's oil and gas production fell 4% quarter-on-quarter, mainly due to Middle East conflict disruptions.

**Companies:** Shell, BP
**Countries:** United Kingdom, Qatar, Iran

[Read the full story on LBC](https://www.lbc.co.uk/article/4b4e3c78e9e943eda6eaa0ba33b84e1e-5HjdYpD_2/)

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