# Shell and TotalEnergies Double Profits

> Oil giants Shell and TotalEnergies report record quarterly profits amid refining boom.
- Title: Shell and TotalEnergies Double Profits · MercoPress | Shortify
- Summary: Oil giants Shell and TotalEnergies report record quarterly profits amid refining boom.
- Keywords: shell, totalenergies, refining margins, quarterly profits, q3 2026, MercoPress
- Source: MercoPress — https://en.mercopress.com/2026/10/30/shell-and-totalenergies-double-profits-on-a-refining-boom
- Read time: 1 min
- Topics: shell, totalenergies, refining margins, quarterly profits, q3 2026, news, world, politics
## Q3 2026 Results
Shell and TotalEnergies doubled quarterly profits in the third quarter of 2026, posting their best results since 2022.
## Refining Margins Surge
Refining margins reached US$42 per barrel for Shell and US$33.2 per barrel for TotalEnergies, nearly four times higher than a year earlier.
## Share Buybacks Expand
Both companies raised their quarterly share buyback programmes, with Shell increasing from US$3 billion to US$5 billion and TotalEnergies confirming a US$2.5 billion buyback for Q4 2026.
## Weak Spots
Shell's oil production fell 17% due to Middle East disruptions, while TotalEnergies booked a US$1.9 billion impairment linked to offshore wind.
## Key takeaway

Shell and TotalEnergies doubled quarterly profits to US$10.81 billion and US$9.1 billion respectively in Q3 2026, driven by higher refining margins.