Shell Launches $5 Billion Share Buyback as Profits Double

Shell’s third-quarter adjusted earnings doubled year over year to $10.81 billion, beating analyst expectations, as stronger LNG prices, refining margins and operational performance lifted results. The company will increase its share buyback to $5 billion for the next three months, with repurchased shares to be cancelled. Shell also cited investments including its ARC Resources acquisition and a final investment decision on LNG Canada Phase 2 as part of efforts to support long-term cash flow growth.