Shell (SHEL LN) Q4 (USD): Adj. Profit 3.26bln (exp. 3.51bln), EPS 0.57 (exp. 0.63), Adj. EBITDA 12.79bln (prev. 14.77bln Y/Y), announces USD 3.5bln share buyback programme

Production:

• Total oil and gas production, compared with the third quarter 2025, increased by 2% mainly due to ramp-up in Canada. LNG liquefaction volumes increased by 7% mainly due to lower maintenance across the portfolio and LNG Canada ramp-up.
• Total production, compared with the third quarter 2025, increased mainly due to new oil production and comparative help from higher planned maintenance in the third quarter of 2025.