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Shell nearly doubled its profit and raised its stock buyback to $5 billion

Free cash flow rose to $16.3 billion from $10.0 billion a year ago, and refining margins reached a record $42 a barrel

Smith Collection/Gado / Getty Images

Shell $SHEL reported third-quarter adjusted earnings of $10.8 billion on Thursday, up from $5.43 billion in the year-ago quarter, and announced a $5 billion stock buyback for the next three months. The buyback program is larger than the $3 billion repurchase Shell announced last quarter.

Chief Executive Wael Sawan said in a statement that the results came in a quarter with "continued severe disruption to the global........

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