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LONDON — British oil giant Shell on Thursday reported a sharp year-on-year drop in second-quarter profit, citing lower fossil fuel prices and refining margins.

Shell posted adjusted earnings of $5.1 billion for the three-month period through to the end of June, missing analyst expectations of $6 billion, according to estimates collated by Refinitiv.

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The company reported adjusted earnings of $11.5 billion during the same period of last year and $9.6 billion for the first three months of 2023.

Shell increased its quarterly dividend by 15% to $0.33 per share, as previously communicated in mid-June. It also announced $3 billion in share buybacks, a program it expects to complete over the next three months.

“At the end of the day, we have a balanced energy transition strategy. What we are looking to do is to be able to do the right things for now and for the future, both for our shareholders and for the planet,” Shell CEO Wael Sawan told CNBC’s “Squawk Box Europe” on Thursday.

“We are focused on creating more value with less emissions,” Sawan said. “And what that means is we will continue to pull all the levers to drive further value growth in the organization, while at the same time we will continue to meet our aggressive emissions reduction targets — both for our own emissions, as well as for our customers.”

Shell CEO: Focused on creating more value with fewer emissions

Shares of the London-listed oil major slipped 2% on Thursday morning.

“The company had previously set the scene with downgrades in its earnings estimates to reflect a more normalised trading environment, but it has still missed expectations with today’s results,” said Stuart Lamont, investment manager at RBC Brewin Dolphin.

“The share buyback programme and increased dividend are good news for shareholders, but will inevitably come with questions attached in the current environment,” he added.

‘Softening oil and gas environment’

French oil major TotalEnergies also reported weaker-than-expected earnings on Thursday, posting second-quarter adjusted net income of $5 billion. It reflects a 49% drop from the bumper profit that the company logged during the same period of last year.

TotalEnergies CEO Patrick Pouyanne said the firm’s “robust” earnings came during a “favorable but softening oil and gas environment.”

Norwegian oil and gas giant Equinor had on Wednesday reported a 57% decline in year-on-year second-quarter profit as oil and gas prices slipped from last year’s high levels.

The West’s five largest oil companies raked in combined profits of nearly $200 billion in 2022 as fossil fuel prices soared following Russia’s full-scale invasion of Ukraine. For its part, Shell reported annual record profit of almost $40 billion for the full-year 2022.

Oil and gas prices were under pressure in the first half of the year, however, as global economic jitters outweighed supply-demand fundamentals.

The impact of lower commodity prices is likely to be mirrored across the energy industry, with Britain’s BP and U.S. rivals Exxon Mobil and Chevron all scheduled to report earnings in the coming days.

‘Activist noise’

Shell has been criticized for backing away from new oil output cuts in recent months. The company announced ahead of its Capital Markets Day conference in New York last month that it would maintain oil production at current levels through to the end of the decade, as part of a bid to generate more cash from its oil division.

It simultaneously reiterated its commitment to climate targets, saying it was making “good progress” toward becoming a net-zero business by 2050.

The burning of fossil fuels — such as oil and gas — is the chief driver of the climate emergency.

Shell on Thursday reduced its capital expenditure range for 2023 to $23 billion to $26 billion, down from a first-quarter estimate of between $23 billion to $27 billion for the full-year.

Asked whether the firm’s plans to invest up to $15 billion over the next three years on low-carbon projects would be enough to quell pressure from climate activists, Shell’s Sawan replied, “We need to do what is right for the company and what we believe is going to be a balanced energy transition.”

“What we look at is opportunities to be able to deploy that capital in a way that we can demonstrate returns to our shareholders. That is the limit of what we see at the moment,” he added.

“If new opportunities emerge that give us line of sight towards the sorts of returns that companies like ours should be going after, then absolutely we will grow our capital, but we cannot grow it on the basis of activist noise. That is not the right approach.”

The Shell annual general meeting in May was repeatedly disrupted by climate protesters, reflecting a palpable sense of frustration during the Big Oil proxy voting season.

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Rumor: Polestar ($PSNY) planning reverse stock split to stay on NASDAQ

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Rumor: Polestar ($PSNY) planning reverse stock split to stay on NASDAQ

In a bid to get it above the $1.00/share NASDAQ-required minimum, fledgling EV brand Polestar ($PSNY) is rumored to be considering a 1:30 reverse stock split that could see the per-share price rocket up to nearly $16.

Geely-owned Volvo spinoff Polestar is working as hard as Tesla to prove that stock prices have little or nothing to do with traditional business fundamentals in 2025.

That’s because Polestar posted a 36.5% increase in retail sales and a heady 48.8% increase in revenue (to $2.17 billion) over the year before, Polestar’s share price has plummeted more than 35% in a matter of a few weeks – culminating in an unwelcome nastygram from NASDAQ threatening to delist the company’s shares from the NASDAQ if they didn’t climb back up above $1.

It looks bad


Via Yahoo!Finance.

To goose the share price, CarScoops is reporting that Polestar aims to move forward with the reverse stock split before the end of 2025. The expected 1:30 reverse split would boost the PSNY price to an estimated $15.90 per share at current prices, keeping the brand well out of risk of a delisting.

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In a reverse stock split, each share of the company is converted into a fraction of a share – so, if a company announces a one for ten reverse stock split (1:10), every ten shares that you own will be converted into a single share. In a 1:30 reverse split like the one rumored here, every thirty shares in Polestar would become a single share.

The reverse split increases share price, but it’s not without risk:

A company may declare a reverse stock split in an effort to increase the trading price of its shares – for example, when it believes the trading price is too low to attract investors to purchase shares, or in an attempt to regain compliance with minimum bid price requirements of an exchange on which its shares trade … investors may lose money as a result of fluctuations in trading prices following reverse stock splits.

INVESTOR.ORG

That’s especially relevant because, despite the increased sales and revenue, the company is also posting increased losses. Through September, the brand posted a $1.56 billion net loss compared to an $867 million loss in the first nine months of 2024. The company is also getting hit hard by Trump-imposed tariffs in the US and increased downward pressure on pricing coming from aggressive post-tax credit discounts from rival brands like BMW and Kia.

If the split does happen, here’s hoping Polestar can make the most of their borrowed time and they don’t end up like Lordstown Motors or Faraday Future – two brands that have pulled similar reverse stock splits with dubious results.

Electrek’s Take


Make the switch to Polestar. Save up to $20,000 on a Polestar 3 lease as a Tesla owner.
Polestar showroom; via Polestar.

Product-wise, at least, Polestar’s future appears to be bright. The new 3 crossover is a viable competitor to the industry-leading Tesla Model Y, and the upcoming Polestar 4 and 5 models seem like winners, too. To drive that point home, Polestar is promoting up to $18,000 in lease incentives to lure Tesla buyers into their showrooms.

You can find out more about Polestar’s killer EV deals on the full range of Polestar models, from the 2 to the 4, below, then let us know what you think of the three-pointed star’s latest discount dash in the comments section at the bottom of the page.

SOURCE: CarScoops; images via Polestar.


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Maybe it really SHOULD have been the new Maxima: meet the Nissan N6 EREV

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Maybe it really SHOULD have been the new Maxima: meet the Nissan N6 EREV

With its sleek, uncluttered styling and more than 100 miles of battery-electric range before the extended range electric sedan’s gas engine kicks on, maybe the new Nissan N6 really should have been the next Maxima!

Struggling Japanese carmaker Nissan is dealing with an aging lineup and a brand identity driven more by subprime financing than any suggestion of reliability or sportiness here in the US – but overseas? The brand is rolling out hit after hit, and the latest Nissan N6 plug-in sedan promises exactly the sort of entry-level panache that could change its American fortunes.

“Under our Re:Nissan plan, we are redefining what Nissan delivers today and beyond,” explains Nissan President and CEO Ivan Espinosa. “It’s about strengthening our core, reigniting Nissan’s heartbeat, and creating products that inspire excitement and trust. It is about a sharper, more focused product strategy, a stronger brand, and a renewed commitment to our customers. Integral to this transformation is China — an essential market whose speed, technological leadership, and customer insights are setting the pace for the global auto industry.”

Developed by the Nissan Dongfeng JV in China, the new N6 is more compact that the well-received N7 BEV. In fact, the new Nissan N6, at 190.1″ long, compares nicely to the 192.8″ length of the most recent (and largest-ever) US Maxima, discontinued in 2023. Like the Maxima, the top-shelf version features modern, near-luxe features like soft, leather-like surfaces, LED mood lighting, multi-way adjustable seats, and mimosas or something.

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Mimosas or something


Mimosas; via Nissan.

The four or five passengers inside the N6 are propelled down the road exclusively by the car’s 208 hp electric motor, which is efficient enough to take you 112 miles on a full charge of its 21.1 kWh LFP battery. Once that charge is depleted, a 1.5L gas engine kicks on as a high-efficiency generator to keep the good times rolling.

Nissan says the N6′ exterior design, “features a V-Motion signature grille and expressive LED lighting at the front and rear.” And says that the car’s crisp lines give it, “a confident, dynamic presence.”

All of which sounds good on its own, but sounds absolutely miraculous when you consider the car’s Chinese price: ¥106,900 – or about $15,000 US for the base Nissan N6 180 Pro, as I type this.

Even with a nearly 100% markup to give it a $29,990 price tag in the US, I think the N6 would be a huge hit in the North American market. And – good news! – thanks to Canada’s apparent willingness to give Chinese carmakers a shot, we might find out if I’m right somewhat sooner than later.

Check out the Nissan N6 image gallery, below, then let us know what you think of the car’s US and Canadian appeal in the comments.


SOURCE | IMAGES: Nissan.


If you’re considering going solar, it’s always a good idea to get quotes from a few installers. To make sure you find a trusted, reliable solar installer near you that offers competitive pricing, check out EnergySage, a free service that makes it easy for you to go solar. It has hundreds of pre-vetted solar installers competing for your business, ensuring you get high-quality solutions and save 20-30% compared to going it alone. Plus, it’s free to use, and you won’t get sales calls until you select an installer and share your phone number with them. 

Your personalized solar quotes are easy to compare online and you’ll get access to unbiased Energy Advisors to help you every step of the way. Get started here.

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BLUETTI just dropped new home backup power stations – and slashed prices up to 65% for Black Friday

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BLUETTI just dropped new home backup power stations – and slashed prices up to 65% for Black Friday

Whether you’re prepping for winter power outages, loading up the RV for a long-haul trip, or want clean, reliable power anywhere you go, BLUETTI has a portable power option for every need. And right now, the clean energy experts are offering up to 65% off their most popular products for Black Friday – plus they’ve just dropped two major new releases: the Elite 400 and B500K expansion battery.

Here’s a complete guide to what’s new, what’s on sale, and how to pick the model that fits your lifestyle best. There are also some special deals just for Electrek readers, so don’t miss out!

For home backup + outdoor adventures: Elite 200 V2 and all-new Elite 400

Elite 200 V2 – Best value for backup, camping, and van life

BLUETTI’s Elite 200 V2 is designed for power users who need versatility. It’s nicknamed the “Swiss Army Knife” of portable power stations because it powers everything from your fridge to your laptop — whether you’re off the grid or just want to keep the lights on during a storm.

Key specs:

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  • Battery capacity: 2,073.6Wh
  • Continuous power output: 2,600W (3,900W surge)
  • 9 output ports: AC, DC, USB-C, and more
  • Recharges to 80% in just over one hour
  • Ultra-quiet 16 dB operation
  • LiFePO₄ battery with a 17-year lifespan (3,500+ cycles)

Who it’s for:

  • RVers, weekend campers, off-grid explorers, small cabin owners
  • Homeowners looking for dependable backup power

Commonly powered devices: Mini-fridges, coffee makers, power tools, microwaves, kettles, electric blankets, laptops, LED lights, wifi routers

Its compact profile makes it easy to tuck away in an RV cabinet, trunk, or apartment closet.

Elite 200 V2 Portable Power Station is regularly priced at $1,699, and it’s on sale for the record-low price of $699 – that’s a 59% discount for Black Friday and Cyber Monday.

Elite 400 Rolling Power Station — New and optimized for home

Launching November 15, the Elite 400 is a powerful 3.8kWh portable station designed with mobility and backup readiness in mind. With built-in wheels, a telescoping handle, and side grips, you can roll it anywhere – even if you’re flying solo.

Key specs:

  • Battery capacity: 3,840Wh
  • Continuous power output: 2,600W (3,900W lifting power)
  • 9 output ports for simultaneous device charging
  • 15ms UPS switchover during power outages
  • Recharges to 80% in 70 minutes using AC + solar
  • Low standby energy use (3W) with app-control wakeup and timers

Who it’s for:

  • Homeowners needing serious backup power
  • Outdoor event hosts, road trippers, off-grid enthusiasts

Commonly powered devices: Full-size refrigerators, sump pumps, CPAP machines, space heaters, power tools, projectors, outdoor cooking appliances, large TVs

Whether you’re powering your home in a blackout or running a campsite movie night, the Elite 400 delivers enough capacity to handle just about anything.

The new Elite 400 Portable Power Station is regularly priced at $2,999, and it’s making its debut on November 15 for $1,499 – that’s a 50% discount for Black Friday and Cyber Monday.

For whole-home power and off-grid living: Meet the new B500K expansion battery

If you’re looking for a system that grows with your energy needs, the B500K expansion battery delivers massive storage potential at a competitive cost of around $0.33/Wh – making it an excellent choice for users seeking higher capacity than the well-acclaimed B300K. Paired with the Apex 300, it also qualifies for the soon-to-end 30% Federal Tax Credit. Designed to integrate seamlessly into BLUETTI’s modular ecosystem, it’s ideal for home battery backup or off-grid setups.

Key specs:

  • Supports up to 100 kWh storage (paired with Apex 300 system)
  • Compatible with BLUETTI’s SolarX 4K, B300K, Hub D1, and more
  • Acts as both standalone power or an expansion battery
  • Future-proof with long-term ecosystem integration

The new B500K expansion battery is regularly priced at $2,999, and it’s making its debut on November 15 for $1,699 – that’s a 43% discount for Black Friday and Cyber Monday.

Ideal bundles:

  • Apex 300 + B500K: Best for large homes, off-grid living, and whole-home backup. With a larger individual capacity, the B500K enables a plug-and-play power system that can be expanded to a massive 100 kWh with the Apex 300. It provides 3.8 kW of power output and 7,884.8 Wh of capacity in total.
    The Apex 300 + B500K Home Battery Backup is priced at $4,998, and it’s on sale for Black Friday for $3,098 – that’s a 38% discount.
  • Apex 300 + B300K: The Apex 300, paired with the B300K, provides 5.5 kWh of capacity and up to 3.8kW of power output, offering smaller households or remote cabins reliable off-grid energy with room to scale. It’s an ideal way to support essential loads, such as refrigerators, lights, fans, and wifi routers, without the need to invest in a larger setup.
    The Apex 300 + B300K is normally priced at $4,098, and it’s on sale for Black Friday for $2,299 –that’s a 44% discount.

Plus! Both bundles are fully eligible for the 30% federal Residential Clean Energy Credit through December 2025.

For everyday portability: Elite 30 V2 and the new Elite 10

Elite 30 V2 – now in EcoTide colors

If you need lightweight, flexible power for camping, car trips, desk-side charging, or college dorm use, the Elite 30 V2 is the sweet spot. Weighing just 4.3 kg, it’s a portable backup that fits in your backpack or on a small shelf. Plus, it comes in six fun colors.

Key specs:

  • Battery capacity: 288Wh
  • Continuous power output: 600W (1,500W surge)
  • 9 output ports including 140W USB-C PD
  • Charges to 80% in 45 minutes
  • Quiet operation under 30 dB
  • 10-year LiFePO₄ battery lifespan, with a 5-year warranty

Ideal for powering: Laptops, DSLR cameras, portable fans, smartphones, drones, modems, LED lighting, external hard drives

It’s perfect for digital nomads, travelers, or anyone who needs reliable backup power without adding bulk.

Elite 30 V2 Portable Power Station is regularly priced at $304, and it’s on sale for $199 – that’s a 35% discount for Black Friday and Cyber Monday. You can buy it on BLUETTI’s website here and on Amazon here.

Sneak preview: The new Elite 10 – pocket-sized power

Launching on November 20, the palm-sized Elite 10 is BLUETTI’s most compact power station yet. It’s the perfect in-between if a power bank won’t cut it, but you don’t want a full-sized power station.

Key specs:

  • Battery capacity: 128Wh
  • Power output: 200W AC (300W peak, 400W surge)
  • 5 DC outlets + 200W AC outlet
  • Fully recharges in 70 minutes
  • LED light modes: reading, warm, SOS

Perfect for powering: Bluetooth speakers, portable fans, DSLR cameras, tablets, Chromebooks, routers, handheld consoles, mini-fridges

Small enough to slip into a tote, train bag, or glovebox, the Elite 10 is built for everyday carry and quick power access.

The Elite 10 launches next week and is said to be the best budget-friendly option yet – available for under $150, and rumored to go even lower. You’ll be able to grab it on BLUETTI’s website and on Amazon here starting November 20.

Electrek exclusive discounts

In addition to the fantastic Black Friday Cyber Monday sale prices, up to 65% off, BLUETTI is offering a special discount code just for Electrek readers!

  • 95% of BLUETTI products qualify for an extra 5% off with code: ELECTREK5OFF
  • The new Elite 400 and all Apex 300 series products qualify for 6% off with code: ELECTREK6OFF

Now is the best time to invest in a power system that’s quiet, clean, and ready whenever you need it – at home or beyond the grid.

The trusted name offers a full lineup of portable power stations to keep you charged – whether a winter storm hits or you’re enjoying outdoor adventures – and stay charged, no matter where life takes you.

Follow BLUETTI on Twitter/X here and on Facebook here.

All photos: BLUETTI

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