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.

Shell reported Q2 earnings that fell less than expected and said it will maintain its pace of buying back $3.5B of shares, despite lower oil and gas prices that are weighing on energy firms.

The Shell share price has been having an erratic year. But investors who bought when it looked like oil might be dead have done well. The post The Shell share price gains on $3.5bn buyback news, but is it still cheap?