$Shel$ profited from high oil and gas price, net profit of USD 11.5b. Make no mistake, Shell is one of the biggest LNG producers, which is the transitional fuel to future. When EU is rationing gas, LNG is in high demand. The announced USD 6B buy back in the next 90 calendar days reduce outstanding shares significantly (back of envelope shows ~5%). It also shows how undervalued the share price is in management pov. The mgmt has demonstrated financial discipline, reducing gearing to below 20%. Companies like this are printing monies when oil price is more than usd 85.
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