Shell and TotalEnergies both reported significant earnings growth in the third quarter of 2026, with profits nearly doubling as the companies navigated elevated commodity prices and strong refining margins. Oilprice.com reports that Shell achieved $10.8 billion in adjusted earnings, nearly twice its $5.432 billion result from the same quarter in 2025. This performance marks the company's highest quarterly figure since 2022.
TotalEnergies similarly recorded strong financial results, announcing an adjusted net income of $9.1 billion. According to Oilprice.com, this figure represents a 127% increase compared to the $4 billion profit booked in the third quarter of 2025 and a 51% rise from the previous quarter. The company attributed these gains to a combination of high oil and gas prices, favorable refining margins, and robust trading activity in oil and liquefied natural gas.
Industry analysts note these outcomes reflect continued volatility in global energy markets. Companies faced pressure from regional supply constraints and the Middle East conflict. TotalEnergies’ income for the period also notably surpassed analyst expectations of $8.3 billion, highlighting the financial impact of current market conditions on supermajors.