Shell has reported net income of $5.32bn (£4.04bn) for the third quarter of 2025 (Q3 2025), compared to $4.29bn for the same period last year. 

The company has also announced a share buyback programme of $3.5bn, which it expects to complete by the next quarter results announcement. 

The company reported total revenue of $68.15bn for Q3 2025, compared to $71.09bn for Q3 2024 and $65.04bn for Q2 2025. 

Its total expenditure for Q3 2025 decreased to $62.48bn from $65.19bn in the same quarter of 2024. 

The oil and gas company’s adjusted earnings before interest, taxes, depreciation and amortisation for the reported period declined to $14.77bn from $16bn for the corresponding quarter the previous year. 

Shell CEO Wael Sawan said: “Shell delivered another strong set of results, with clear progress across our portfolio and excellent performance in our marketing business and deep-water assets in the Gulf of America and Brazil. 

“Despite continued volatility, our strong delivery this quarter enables us to commence another $3.5bn of buybacks for the next three months.” 

Shell’s total oil and gas production reached 2.82 million barrels of oil equivalent per day (mboe/d) in Q3 2025 from 2.68mboe/d in the previous quarter. 

Its liquefied natural gas (LNG) liquefaction volumes for the reported quarter were 7.29 million tonnes (mt), compared to 7.50mt in Q3 2024 and 6.72mt in Q2 2025. 

The British oil giant attributed the increase in total oil and gas production compared to the second quarter of 2025 primarily to lower maintenance across the portfolio. 

The increase in LNG liquefaction volumes was attributed to lower maintenance and the ramp-up of LNG Canada. 

Shell expects its integrated gas production for the next quarter (Q4 2025) to range between 920,000boe/d and 980,000boe/d, and LNG liquefaction volumes to between 7.4mt and 8mt.