London: First-quarter adjusted earnings, Shell's definition of net profit, rose to $6.92 billion, on Thursday. Shell reported adjusted earnings of $5.58 billion over the same period a year ago. At the same time, Shell cut its quarterly share buy-back to $3 billion from $3.5 billion.

According to Qatar News Agency, Shell's total oil and gas production fell 4% compared with the previous quarter, mainly due to supply disruptions and escalating tensions in the Middle East. Shell's gearing, or debt to equity ratio including leases, rose to 23.2% from 20.7% at end-2025. Shell had flagged higher debt due to managing war-related price and supply disruptions and volatility.