Core Insights - Shell reports that oil product demand has increased by 1 million barrels per day since 2025 [1] Industry Summary - The growth in oil product demand indicates a robust recovery and increasing consumption trends in the energy sector [1]

Financial Performance - Adjusted Earnings were $4.3 billion in Q2 2025[9], compared to $5.6 billion in Q1 2025[15] - Cash flow from operations (CFFO) reached $11.9 billion in Q2 2025[9], with 46% of CFFO distributed to shareholders over the last 12 months[9] - Total shareholder distributions in Q2 2025 amounted to $5.7 billion, including $2.1 billion in cash dividends and $3.5 billion in share repurchases[10] - The company maintains a strong balance sheet with a gearing of 19%[9], and net debt of $43.2 billion[11] Strategic Initiatives - The company is implementing a new buyback program of $3.5 billion, expected to be completed by Q3 2025[9] - The company is targeting $5-7 billion in structural cost reductions by the end of 2028, cumulative from 2022 levels[37] - The company has delivered $3.9 billion of structural cost reductions, with >60% from non-portfolio activities[20] - Cash capital expenditure is projected to be $20-22 billion per annum from 2025-2028[9, 37] Portfolio and Growth - First cargo has left LNG Canada, which has a capacity of 14 mtpa (40% Shell share)[26] - The company is targeting LNG sales growth of 4-5% CAGR to 2030[24] - The company aims for >10% nFCF per share growth p a through 2030[37]

With energy prices dipping over the course of the second quarter, the FTSE 100 company said on Thursday that its adjusted earnings, or net profit, fell 32% to $4.3 billion over the three months to June 30. Shell reported adjusted earnings of $6.29 billion over the same period last year and $5.58 billion in the first three months of 2025. Over the course of the second quarter, global proxy benchmark Brent crude averaged around $67 a barrel during versus $75 a barrel in the first quarter, and above $80 in the ...

1. 美国三大股指期货齐涨，纳指期货涨1.32%，标普500指数期货涨0.92%，道指期货涨0.24%。 9. 赛诺菲Q2列账销售同比增长6%至99.94亿欧元，撇除单次项目后经营溢利24.61亿欧元，逊于预期。 10. 法拉利Q2营收17.9亿欧元，市场预期18.2亿欧元；交付量3494辆，市场预期3515辆。 11. Arm首财季营收增长12%至10.5亿美元，净利润同比下降41.7%至1.3亿美元；公司正在投资开发自有 芯片。 12. eBay Q2营收同比增长6%至27.3亿美元，超预期，净利润同比增长63%至3.69亿美元。 2. 欧股主要指数涨跌不一，德国DAX指数跌0.15%，英国富时100指数涨0.36%，法国CAC指数跌 0.34%，欧洲斯托克50指数跌0.51%。 3. 贝森特：预计年底前宣布美联储提名，将对美联储人员进行面试。 4. 国家网信办就对华销售的H20算力芯片漏洞后门安全风险约谈英伟达。 5. 微软Q2营收同比增长18%至764.4亿美元，智能云业务收入同比增长26%至299亿美元，均超预期。 6. Meta Q2营收同比增长22%至475.2亿美元，经营利润同比增长38%至2 ...

Wael Sawan在接受采访时表示："我们目前所见的化工行业利润率低谷，是很长很长一段时间里持续最 久的一次。我们正推进重要的转型计划，力求缓解这一局面。" 一段时间以来，壳牌的化工部门一直拖累着整个公司的业绩表现。从行业层面看，欧洲等地生产商面临 的高成本压力，叠加中国大幅提升的产能，导致全球化工市场连年疲软，已引发主要生产商掀起资产出 售和关停潮。 壳牌在上一季度已出售了其位于新加坡的化工厂。 Sawan表示，公司正努力聚焦于自身能够掌控的领域，其中包括对业务组合进行"优化升级"。 壳牌(SHEL.US)首席执行官承诺将扭转旗下化工业务的颓势。他表示，该业务正经历一场长期以来全行 业最为持久的低迷。 ...

Exhibit 99.2 Shell plc Three and six month periods ended June 30, 2025 Unaudited Condensed Interim Financial Report Shell plc Unaudited Condensed Interim Financial Report 1 SHELL PLC 2 QUARTER 2025 AND HALF YEAR UNAUDITED RESULTS nd SUMMARY OF UNAUDITED RESULTS | | Quarters | | | $ million | | | Half year | | | --- | --- | --- | --- | --- | --- | --- | --- | --- | | Q2 2025 | Q1 2025 | Q2 2024 | %¹ | | Reference | 2025 | 2024 | % | | 3,601 | 4,780 | 3,517 | -25 | Income/(loss) attributable to Shell plc shar ...

Shell's CEO pledges to turn around the company’s struggling chemicals business https://t.co/pZ1dlBEtbx ...

智通财经APP获悉，壳牌集团(SHEL.US)周四发布第二季度财报，由于油价回落，且旗下油气交易部门 难以应对由突发消息引发的剧烈市场波动，该季利润暴跌32%。数据显示，壳牌Q2经调整净利润为42.6 亿美元，虽低于去年同期的62.9亿美元，但超过了分析师平均预期的37.4亿美元。 过去两年，萨万一直在致力于削减成本、提升可靠性并剥离表现不佳的资产，试图缩小与美国同行之间 的估值差距。这场"冲刺"已开始见效——2025年以来，壳牌的表现已超过其他大型石油公司。 分析师们强调，壳牌的资产负债表已得到改善。公司在5月表示，即便原油价格跌至每桶50美元(远低于 当前水平)，其财务实力仍足以支撑每季度回购超过30亿美元的股票。 今年3月，壳牌宣布计划优先考虑股东回报、加大成本节约力度，并进一步推进液化天然气(LNG)业 务。这一战略更新旨在强化其创造价值的承诺，同时继续聚焦"业绩、纪律与精简运营"。 该计划似乎得到了投资者的认可。今年以来，壳牌股价表现优于许多欧美同行，涨幅达8%。相比之 下，英国石油同期上涨3%，法国道达尔下跌2%，埃克森美孚上涨4%。 值得注意的是，就在一个月前，壳牌针对媒体报道曾声明无意收购英国 ...

Core Insights - The CFO of Shell indicated a risk-averse strategy in oil trading during the second quarter due to a disconnect observed between oil price fluctuations and fundamental market conditions [1] Group 1 - Shell's CFO highlighted the volatility in oil prices and its disconnection from the underlying fundamentals [1]

Core Viewpoint - Shell reported a second-quarter revenue of $65.41 billion, exceeding the estimated $64.8 billion, indicating strong performance in the energy sector [1] - The adjusted profit for the quarter was $4.26 billion, surpassing the forecast of $3.74 billion, reflecting effective cost management and operational efficiency [1] - Adjusted earnings per share (EPS) reached $0.72, higher than the expected $0.60, showcasing robust profitability [1] Financial Performance - Revenue: $65.41 billion compared to the estimated $64.8 billion [1] - Adjusted Profit: $4.26 billion versus the forecast of $3.74 billion [1] - Adjusted EPS: $0.72, exceeding the expected $0.60 [1]