Shell pledges additional shares buybacks and hikes dividend as profit drops

Shell also reported a drop in the performance of its gas-trading unit, which in previous quarters generated big returns diverting cargoes of liquefied natural gas, or LNG, to Europe.

Shell's second-quarter profit fell from the highs seen last year but the company pledged extra share buybacks and raised its dividend.

The results are broadly in line with industry peers Chevron and Equinor, where the decline in oil and gas prices dragged earnings lower even as production increased.