Shell sees refining margins jump to $42/barrel in Q3 as gas output rises post-ARC acquisition

Shell reported a sharp rise in refining margins to an estimated $42 per barrel in Q3, up from $24 in Q2, driven by stronger market conditions. Integrated gas production increased to between 740,000 and 780,000 barrels of oil equivalent per day, boosted by the recent acquisition of ARC Resources. However, Shell expects its chemicals margin to decline and marketing earnings to fall compared to the previous quarter. The company also faces lower refinery utilization due to environmental factors and anticipates a $2.5 billion cash outflow related to German emissions certificate payments. Shell will release its full Q3 results on October 29.

Shell's market capitalization stands at $273.93 billion as of October 7, 2026, 13:51 WIB, with a dividend yield of 3.24%. Despite the company's strong Q3 refining margins and increased gas output, Shell's stock price on Pluang is stable at USD 97.61, showing a minimal 1-day change of -0.01%. Trading volume is moderate at 6,714,097 shares, with a typical hold time of 90 days, and current order activity leans heavily toward selling at 75%.