Energy giant Shell has maintained the pace of its $3 billion-plus share buybacks, despite quarterly profits falling by a third in the face of falling oil and gas prices.

The energy giant maintained the pace of its shareholder returns despite lower prices weighing on energy companies’ balance sheets.

Shell's adjusted earnings, its definition of net profit, reached $4.264 billion in the second quarter, it said on Thursday, above the $3.74 billion average in an analyst poll provided by the company but down from $6.