Shell launches $3B buyback after Q1 profits more than double despite lower cash flow.

Shell announced a new $3 billion share buyback program following a first quarter where adjusted earnings more than doubled to $6.9 billion, up from $3.3 billion the previous quarter. Despite this profit surge, free cash flow fell to $2.9 billion from $4.2 billion due to working capital outflows linked to commodity price changes. The company also completed a $3.5 billion buyback last quarter and paid $2.1 billion in dividends. Looking ahead, Shell expects capital expenditure of $24-26 billion for the year, including $4 billion for acquiring ARC Resources, while production faces some pressure from maintenance and geopolitical disruptions, especially in LNG volumes due to Middle East conflicts.