Shell and TotalEnergies Double Profits on Refining Boom
Part of composite article Oil Refiners Rake in Record Profits as War Chokes Fuel Supplies View full article →
European oil majors Shell and TotalEnergies doubled their profits in the third quarter of 2026, posting their best quarterly results since 2022. The companies benefited from refining margins nearly four times higher than a year earlier, driven by tensions in the Middle East, according to results published on Thursday. Both companies also expanded their share buyback programmes.