Shell’s Q3 profit climbs to $5.32bn

Core Insights - Shell reported a net income of $5.32 billion for Q3 2025, an increase from $4.29 billion in the same period last year [1] - The company announced a share buyback program of $3.5 billion, expected to be completed by the next quarter results announcement [1] - Total revenue for Q3 2025 was $68.15 billion, down from $71.09 billion in Q3 2024 but up from $65.04 billion in Q2 2025 [1] - Total expenditure decreased to $62.48 billion in Q3 2025 from $65.19 billion in Q3 2024 [1] Financial Performance - Adjusted earnings before interest, taxes, depreciation, and amortization (EBITDA) declined to $14.77 billion from $16 billion year-over-year [2] - Shell's total oil and gas production increased to 2.82 million barrels of oil equivalent per day (mboe/d) in Q3 2025, up from 2.68 mboe/d in the previous quarter [3] - Liquefied natural gas (LNG) liquefaction volumes were 7.29 million tonnes in Q3 2025, compared to 7.50 million tonnes in Q3 2024 and 6.72 million tonnes in Q2 2025 [3] Operational Insights - The increase in total oil and gas production was primarily due to lower maintenance across the portfolio [4] - The rise in LNG liquefaction volumes was attributed to lower maintenance and the ramp-up of LNG Canada [4] - Shell expects integrated gas production for Q4 2025 to range between 920,000 boe/d and 980,000 boe/d, with LNG liquefaction volumes projected between 7.4 million tonnes and 8 million tonnes [4]