London, 30 July 2026 – Shell’s quarterly profit has more than doubled to US$9.8 billion as elevated oil and gas prices strengthened upstream and trading earnings, illustrating how geopolitical disruption is transferring value from energy consumers to producers.
The result reflects an operating environment shaped by conflict involving Iran and constraints around key regional supply routes. Higher crude and gas prices improve cash generation for integrated energy companies, but the same moves raise transport, manufacturing and electricity costs across import-dependent Asian economies.
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