Energy giant Shell has posted higher-than-expected profits, despite lower refining margins.
The firm reported adjusted earning of $6.3bn ($4.92bn) for the three-month period until the end of June, beating analysts expectation of $5.9bn (£4.61bn).
Revenue fell by 19% quarter-on-quarter from $7.7bn (£6.01bn) in Q1.
The company said the drop in earnings was partially offset by better marketing margins and volumes.
A $3.5bn (£2.73bn) share buyback programme was also launched by Shell.
Chief executive Wael Sawan said: "Shell delivered another strong quarter of operational and financial results.
"We further strengthened our leading LNG portfolio, and made good progress across our Capital Markets Day 2023 financial targets, including $1.7bn of structural cost reductions since 2022.
"Today, we have also announced a further $3.5bn buyback programme for the next three months.
"We continue to demonstrate that we are delivering more value with less emissions."
Full results can be viewed here.