Shell has doubled its profits in the last quarter after the Middle East conflict drove up the price of oil and gas and created shortages in the global market.
Shell reported on Thursday morning that it made an adjusted profit of $10.8bn (£8.1bn) in the July-September quarter, up from $5.432bn in the third quarter of 2025. The results beat analyst expectations for a rise to $10.33bn.
Shell has doubled its profits in the last quarter after the Middle East conflict drove up the price of oil and gas and created shortages in the global market.
Shell reported on Thursday morning that it made an adjusted profit of $10.8bn (£8.1bn) in the July-September quarter, up from $5.432bn in the third quarter of 2025. The results beat analyst expectations for a rise to $10.33bn.
John Healey is abolishing standing charges on gas bills for 23m homes in a move he says will end an “unfair and outdated” practice and save two-thirds of households an average of £45 a year.
Ahead of his first budget statement in the Commons later on Wednesday, the chancellor said he would ask Ofgem, the energy regulator for Great Britain, to remove these charges – which are £108 a year for the typical household – next year or as soon as possible after.
Tankers part of US-Russia deal that could see 500,000 metric tonnes of fuel supplied to world market this month. What we know on day 1,704
Three tankers carrying Russian diesel are on their way to North America, Russian deputy prime minister Alexander Novak said on Friday. In a statement quoted by Russian news agencies, Novak said the cargoes were part of a deal that could see Russian companies supply 500,000 metric tonnes to US and world markets in October. “The first three fuel tankers are already on their way to the eastern coast of the Atlantic Ocean, with significant support from the RDIF (Russian Direct Investment Fund),” Novak said. Under a deal announced this month by US president Donald Trump, Russia agreed to supply diesel to global markets in an effort to lower fuel prices in return for Trump temporarily lifting US sanctions on Russian fuel. Reuters reported that the Malta-flagged medium-sized tanker Agioi Fanendes, loaded with ultra-low sulphur diesel, is expected to arrive in the US on 7 November.
The White House has said that Russia and Ukraine have agreed to a ceasefire in the Russian-occupied city of Oleshky, where a deepening humanitarian crisis has left thousands of civilians struggling to survive. In a statement on Friday, the White House said both sides had agreed to halt all military operations in the city from 27 October to allow humanitarian aid deliveries and preparations for the evacuation of civilians. Residents of the southern Ukrainian city, which has been under Russian occupation since February 2022, have described increasingly desperate conditions amid severe shortages of food, water and electricity. An estimated 2,000 people remain in the city, with some reportedly forced to survive on weeds, boiled grass, bread and meagre rations. Both Russian and Ukrainian officials said all sides were close to agreeing to a ceasefire.
The Oleshky ceasefire comes asthe US is trying to organise new talks aimed at ending the war. Ukrainian president Volodymyr Zelenskyy said on Friday negotiators from Ukraine, Russia and the US have agreed to technical-level meetings in the first half of November in Abu Dhabi. A US official later said the three countries may hold their next talks in a couple weeks in Abu Dhabi or Switzerland. Zelenskyy said he hoped a meeting of the countries’ leaders would follow.
The peace efforts follow a rift between Washington and Kyiv in recent weeks and a series of moves by Trump seen as favouring Russia, including limitations being placed on the Starlink communication system that Ukraine uses to protect against incoming attacks. Trump said on Friday that if Ukraine still faced a problem accessing the system, he would straighten it out and, if necessary, speak about the matter to SpaceX CEO Elon Musk.
As the UK government prepares next week for the first budget under Andy Burnham’s leadership, EU leaders have pressed the new prime minister at a summit in Brussels to contribute more to Ukraine’s defence effort. EU officials say Canada and Japan also should do more to support Ukraine.
The UN nuclear watchdog IAEA said Fiday that repairs to key power infrastructure near Ukraine’s Zaporizhzhia nuclear power plant had been completed under a temporary ceasefire it brokered. The repairs strengthened the plant’s connection to its sole remaining external power line, known as Ferosplavna-1, reducing the risk of another loss of off-site electricity at Europe’s largest nuclear power station.
Official forecasts show country will meet energy demand by paying high prices to secure imports
Great Britain is expected to pay some of the highest energy costs in Europe this winter as its reliance on imports to ensure a steady supply is forecast to deepen.
Energy system operators have said the country will have enough gas and electricity to meet demand over the coldest months – in part because of paying higher market prices than neighbouring markets to secure imports.
Premium paid over French counterparts has risen to almost £30 a megawatt hour, analysis by lobby group finds
British steelmakers have been pushed further behind European rivals on electricity costs after the US-Israeli war on Iran caused a surge in global gas prices.
The premium paid by the British industry over its French counterpart has risen to almost £30 a megawatt hour (MWh), its highest level in three years, according to analysis by the lobby group UK Steel.
Login
