Shell saw profit from its lube unit hold firm in the second quarter of the year even as its sales volume fell.The unit’s adjusted earnings of $312mn in the three months to end-June rose by 39pc from year-earlier levels. Profit was down from a two-year high of $345mn in the first quarter of the year.Profit rose in the second quarter even as Shell’s lube sales volume of 83,000 b/d (1.06mn t) fell from 86,000 b/d during the same period a year earlier and from 85,000 b/d during the first quarter.The higher profit contrasted with a 56pc fall in Shell’s total second-quarter earnings to $5.1bn.The contrasting trend boosted the lube unit’s share of Shell’s profit to more than 6pc of the total. The share was up from 3.6pc in the first quarter and the highest since early 2021..Shell’s Q1 lube profit surges
Shell saw profit from its lube unit hold firm in the second quarter of the year even as its sales volume fell.The unit’s adjusted earnings of $312mn in the three months to end-June rose by 39pc from year-earlier levels. Profit was down from a two-year high of $345mn in the first quarter of the year.Profit rose in the second quarter even as Shell’s lube sales volume of 83,000 b/d (1.06mn t) fell from 86,000 b/d during the same period a year earlier and from 85,000 b/d during the first quarter.The higher profit contrasted with a 56pc fall in Shell’s total second-quarter earnings to $5.1bn.The contrasting trend boosted the lube unit’s share of Shell’s profit to more than 6pc of the total. The share was up from 3.6pc in the first quarter and the highest since early 2021..Shell’s Q1 lube profit surges
