Shell forecasts 2026 cash capex of $23 billion to $25 billion
SHEL•Shell expects 2026 cash capital expenditure of $23 billion to $25 billion, including about $4 billion for the ARC Resources acquisition. It also plans a $5 billion share buyback, while third-quarter cash flow from operations reached $21 billion and adjusted earnings were $10.8 billion.
1. Spending and buyback plans
Shell expects 2026 cash capital expenditure of $23 billion to $25 billion, including about $4 billion for the ARC Resources acquisition. A new $5 billion share buyback program is expected to finish by the Q4 results announcement on February 4. The company continues to target shareholder distributions of 40% to 50% of cash flow from operations through the cycle.
2. Third-quarter results
Third-quarter cash flow from operations reached $21 billion, and adjusted earnings were $10.8 billion.
