Shell’s chemicals segment saw a sharp surge in gross profit in the second quarter.

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On July 7, Shell released its Trading Outlook report, which indicated that in the second quarter of 2026, the company’s global chemical reference gross margin surged from $139 per tonne in the first quarter to $240 per tonne, significantly widening its profit margins. However, in the second quarter, the average operating rate of Shell’s chemical plants edged down, remaining in the 80%–84% range, below the 85% level recorded in the first quarter.

In this quarterly business guidance, Shell did not disclose operating analysis or projected earnings data to its chemicals segment. Previously, Shell’s chemicals business had posted adjusted losses to seven consecutive quarters, with first-quarter losses reaching $117 million this year.

In February of this year, Shell CEO Wael Sawan acknowledged that the chemicals segment had underperformed expectations and that the company was evaluating the shutdown of certain production units as needed. regulation will conduct a line-by-line analysis of the cash costs to each production unit and, in light of sector cycle trends, develop an adjustment plan that leaves no optimization measure off the table. Shell is scheduled to officially emit its full second-quarter financial report on July 30.

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