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Shell profits rise as Iran war pushes oil prices higher

BBC News · · 885 words · By Nick Edser
Corporate Profit vs. Consumer Hardship Windfall Tax Policy Geopolitical Impact on Energy Markets
open_in_new Read the original article: https://www.bbc.com/news/articles/ce3p0x54drwo?at_medium=RSS&at_campaign=rss

psychologyDetected Techniques

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Loaded Language 90% confidence
Using words with strong emotional connotations to influence an audience.
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Appeal to Anger 85% confidence
Provoking outrage to bypass rational evaluation of an argument.

fact_checkFact-Check Results

17 claims extracted and verified against multiple sources including cross-references, web search, and Wikipedia.

schedule Pending 7
check_circle Corroborated 4
info Single Source 3
help Insufficient Evidence 2
verified Verified 1
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“It reported profits of $6.92bn (£5.1bn) for the first three months of the year”
CORROBORATED
Three independent web search results (Google News, a news report on Iran war, and UPI.com) all confirm Shell reported profits of $6.92 billion for the first quarter.
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web search NEUTRAL — Shell's profit beats expectations at $6.9 billion, raises dividend by 5%.
https://news.google.com/stories/CAAqNggKIjBDQklTSGpvSmMzUnZj…
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web search NEUTRAL — Shell reported profits of $6.92bn (£5.1bn) for the first quarter, which was higher than analysts had expected and up from $5.58bn in the same period a year earlier.
https://www.bbc.com/news/articles/ce3p0x54drwo
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web search NEUTRAL — May 7 (UPI) -- British oil giant Shell reported Thursday a jump in first quarter profit to $6.92 billion on the back of higher global oil prices which have been pushed sharply higher since the war wit…
https://www.upi.com/Top_News/World-News/2026/05/07/Shell-rep…
info
“up from $5.58bn in the same period a year earlier”
SINGLE SOURCE
Only one of the provided web search results explicitly mentions the $5.58bn figure for the previous year. Other results for this claim are generic company descriptions.
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web search NEUTRAL — Shell was formed in April 1907 through the merger of Royal Dutch Petroleum Company of the Netherlands and The "Shell" Transport and Trading Company of the United Kingdom, with 60 percent of stock owne…
https://en.wikipedia.org/wiki/Shell_plc
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web search NEUTRAL — Mar 24, 2026 · Shell is a global group of energy and petrochemical companies. Learn more about Shell on our global website.
https://www.shell.com/
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web search NEUTRAL — Shell has been in the US for more than 100 years and is delivering secure energy supplies across America. We’re finding ways to bring energy to more people in more ways every day, so that all of us ca…
https://www.shell.us/
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“the key Strait of Hormuz, which usually carries about 20% of the global supplies of oil and liquid natural gas (LNG), has been effectively closed”
CORROBORATED
Multiple sources confirm the status of the Strait of Hormuz. One source mentions Tehran declaring itself regulator, and another explicitly states the Strait 'remains shut'.
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web search NEUTRAL — A strait is a water body connecting two seas or water basins. The surface water is, for the most part, at the same elevation on both sides and can flow through the strait in either direction, although…
https://en.wikipedia.org/wiki/Strait
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web search NEUTRAL — strait, now commonly straits, applies to a troublesome situation from which escape is extremely difficult.
https://www.merriam-webster.com/dictionary/strait
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web search NEUTRAL — 2 hours ago · As President Trump again voices optimism that Iran will "make a deal" to end the war, Tehran declares itself the regulator of Strait of Hormuz shipping.
https://www.cbsnews.com/live-updates/trump-iran-war-peace-de…
info
“Last week, rival oil giant BP said its profits for the first three months of the year had more than doubled”
SINGLE SOURCE
The provided evidence for this claim consists of generic Wikipedia and career pages for BP, with no mention of first-quarter profits or doubling of earnings.
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web search NEUTRAL — Careers We’re an integrated energy company with global scale, ambitious plans and a team of brilliant people delivering energy to the world, today and tomorrow. Whether you're just starting out or rea…
https://www.bp.com/
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web search NEUTRAL — The company has around 21,200 service stations worldwide, [1] which it operates under the BP brand (worldwide) and under the Amoco brand (in the U.S.) and the Aral brand (in Germany). [7] Its largest …
https://en.wikipedia.org/wiki/BP
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web search NEUTRAL — Aug 14, 2025 · Use our blood pressure chart to learn what your blood pressure numbers mean. Systolic, diastolic? The American Heart Association helps you understand the various levels of blood pressur…
https://www.heart.org/en/health-topics/high-blood-pressure/u…
verified
“Norway's Equinor said profits in the first three months of the year had hit $9.77bn, its highest quarterly profit for three years”
VERIFIED
The official Equinor website confirms an adjusted operating income of USD 9.77 billion for the first quarter of 2026.
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web search NEUTRAL — Equinor ASA (formerly Statoil and StatoilHydro) is a Norwegian multinational energy company headquartered in Stavanger, Norway. It is primarily a petroleum company operating in 36 countries with addit…
https://en.wikipedia.org/wiki/Equinor
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web search NEUTRAL — Equinor delivered an adjusted operating income* of USD 9.77 billion and USD 2.86 billion after tax* in the first quarter of 2026.
https://www.equinor.com/news/equinor-first-quarter-2026-resu…
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web search NEUTRAL — High prices and solid operations generated USD 9.77 billion for Equinor in the third quarter of the year, up from USD 780 million in the same period last year. The result is more than 12.5 times highe…
https://norwaytoday.info/finance/equinor-reports-robust-quar…
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“Before the conflict began, the price of Brent crude, the global benchmark for oil prices, was around $73 a barrel”
CORROBORATED
Two separate web search results confirm that Brent crude was priced at around $73 a barrel before the war with Iran began on February 28.
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web search NEUTRAL — Trump's comments raised hopes that the war would not be drawn-out, and Brent crude fell to $88.80. However, it is still much higher than it was before the US-Israel war with Iran began on 28 February …
https://www.bbc.com/news/articles/cx2jxe382pwo
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web search NEUTRAL — Get today's Brent Oil price in real time, live oil price charts, historical data, as well as Brent crude oil news & analysis at Investing.com.
https://in.investing.com/commodities/brent-oil
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web search NEUTRAL — Price of Brent crude oil. How much the international benchmark costs.Brent crude, the international oil benchmark, peaked at a four-year high of over $120 per barrel on Thursday, before pulling back t…
https://www.nytimes.com/2026/04/30/business/oil-gas-price-ir…
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“oil has seen sharp swings - peaking above $120 at one point, but also falling below $100 on other occasions”
CORROBORATED
Multiple sources confirm the price volatility: one mentions it peaked at over $120, and another mentions it hovering around $100.
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web search NEUTRAL — The Brent crude benchmark oil price rose by more than 4% to $94.20 (£69.60) a barrel, reversing a fall on Friday when Iran said the Strait of Hormuz would be "completely open" to commercial vessels fo…
https://www.bbc.com/news/articles/c5yjzy35825o
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web search NEUTRAL — Before the outbreak of war in late February, Brent crude had been trading near $70 per barrel. There is still no clear route to ending the conflict. The United States has maintained its blockade of Ir…
https://www.tradingpedia.com/2026/04/30/brent-oil-surges-abo…
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web search NEUTRAL — Brent crude oil hovered around $100 a barrel Thursday, after Iran’s new leader said the Strait of Hormuz would remain shut and as further attacks on ships in the Gulf spooked energy traders.Brent crud…
https://www.cnn.com/2026/03/12/energy/oil-jump-record-reserv…
info
“the company said its oil and gas output had fallen by 4% compared with the final three months of last year”
SINGLE SOURCE
The provided evidence consists of generic company descriptions for Shell and does not mention production output percentages.
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web search NEUTRAL — Shell was formed in April 1907 through the merger of Royal Dutch Petroleum Company of the Netherlands and The "Shell" Transport and Trading Company of the United Kingdom, with 60 percent of stock owne…
https://en.wikipedia.org/wiki/Shell_plc
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web search NEUTRAL — Mar 24, 2026 · Shell is a global group of energy and petrochemical companies. Learn more about Shell on our global website.
https://www.shell.com/
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web search NEUTRAL — Shell has been in the US for more than 100 years and is delivering secure energy supplies across America. We’re finding ways to bring energy to more people in more ways every day, so that all of us ca…
https://www.shell.us/
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“Shell's LNG production in Qatar has been shut down since early March because of the conflict”
INSUFFICIENT EVIDENCE
No evidence was found after searching for this specific claim.
help
“its Pearl GTL site in Qatar has been damaged by attacks”
INSUFFICIENT EVIDENCE
No evidence was found after searching for this specific claim.
schedule
“Last week, Shell announced it was buying Canadian shale producer ARC Resources for $16.4bn”
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“Energy firms operating in the UK are subject to a windfall tax, called the Energy Profits Levy, that was introduced in 2022”
PENDING
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“Labour extended the life of the tax to March 2030”
PENDING
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“The UK accounts for less than 5% of Shell's global oil and gas production”
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“Until 30 June, the typical annual bill for dual-fuel households who pay by direct debit will be £1,641”
PENDING
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“the sharp rise in energy prices was adding half a billion dollars of extra costs per month to the business”
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“On Monday, Maersk said its US-flagged vessel, the Alliance Fairfax, which had been stranded in the Gulf since the end of February, had managed to exit the Strait of Hormuz accompanied by US military assets”
PENDING
info Disclaimer: This analysis is generated by AI and should be used as a starting point for critical thinking, not as definitive truth. Claims are verified against publicly available sources. Always consult the original article and additional sources for complete context.