Shell's adjusted earnings, its definition of net profit, reached $9.84 billion in the second quarter, beating expectations and more than doubling its profit from the same time last year.
The company reported that its profit jumped on the back of an oil-refining boom and another robust period for energy trading. This bumper result comes as energy majors receive a profit boost from soaring fossil fuel and gas prices since the Iran war.
The Iran war has upended the market, with disruption to global supplies of oil and liquid natural gas through the Strait of Hormuz pushing up prices. These conditions have allowed multinational energy companies to enjoy a windfall.
Strong trading performance and higher prices stemming from the conflict in the Middle East enabled the energy major to maintain its quarterly buyback.