Shell’s quarterly earnings have jumped this quarter, continuing a strong trend seen across players in the oil and gas sector. According to the company’s second quarter results, Shell made $9.8 billion in adjusted earnings, which is said reflects a strong operational performance with record upstream production in Brazil and record refinery utilisation. Year on year, it is even higher than the $4.2bn it made in the second quarter of 2025. Shell also said that is had reduced structural costs by $5.8bn since 2022; with around $700 million delivered in first half of 2026. Its results added that the deal has received shareholder approval and Shell expects the acquisition to complete in the third quarter of 2026.