Shell's profits have hit an unprecedented high of over $43 billion for the year so far, driven by significant increases in production from its key assets in Brazil and the Gulf of Mexico.
In a strong quarterly performance, the company reported earnings of $5.4 billion, a 27% increase on the previous quarter, but still lower than last year's figures. This marks a trend of lower profits compared to 2024 due to falling oil prices globally.
Despite this, Shell claims to have one of the strongest balance sheets in the industry, with Wael Sawan, its CEO, hailing the results as "clear progress across our portfolio" and "excellent performance in our marketing business and deepwater assets".
The majority of Shell's oil and gas output is generated from these two regions, where new projects have delivered significantly more than expected. In Brazil, production has reached a record high, while the Gulf of Mexico has seen a 20-year high for fossil fuel extraction.
However, not all news is positive. The company is facing tax charges related to its UK operations, including a $509 million levy on its energy profits. This windfall tax was introduced after Russia's invasion of Ukraine and remains in place until 2030.
There are also growing concerns over the North Sea, with the British Chancellor, Rachel Reeves, reportedly considering plans to scrap the profits levy sooner than expected. However, the Treasury is seeking assurances that such a move would lead to more jobs and investment.
As global oil prices have fallen from over $100 a barrel last year to around $65 a barrel currently, Shell's buyback program remains on track, with the company poised to purchase an additional $3.5 billion of shares over the next three months.
Despite the optimism, critics are calling out Shell for its "horror show" profits and accusing the company of exploiting communities worldwide. Fossil Free London staged a protest outside Shell's London headquarters this week, highlighting the need for greater accountability from the energy sector.
In a strong quarterly performance, the company reported earnings of $5.4 billion, a 27% increase on the previous quarter, but still lower than last year's figures. This marks a trend of lower profits compared to 2024 due to falling oil prices globally.
Despite this, Shell claims to have one of the strongest balance sheets in the industry, with Wael Sawan, its CEO, hailing the results as "clear progress across our portfolio" and "excellent performance in our marketing business and deepwater assets".
The majority of Shell's oil and gas output is generated from these two regions, where new projects have delivered significantly more than expected. In Brazil, production has reached a record high, while the Gulf of Mexico has seen a 20-year high for fossil fuel extraction.
However, not all news is positive. The company is facing tax charges related to its UK operations, including a $509 million levy on its energy profits. This windfall tax was introduced after Russia's invasion of Ukraine and remains in place until 2030.
There are also growing concerns over the North Sea, with the British Chancellor, Rachel Reeves, reportedly considering plans to scrap the profits levy sooner than expected. However, the Treasury is seeking assurances that such a move would lead to more jobs and investment.
As global oil prices have fallen from over $100 a barrel last year to around $65 a barrel currently, Shell's buyback program remains on track, with the company poised to purchase an additional $3.5 billion of shares over the next three months.
Despite the optimism, critics are calling out Shell for its "horror show" profits and accusing the company of exploiting communities worldwide. Fossil Free London staged a protest outside Shell's London headquarters this week, highlighting the need for greater accountability from the energy sector.
think shell is trying to spin the results as good while ignoring that profits are lower than last year...also that tax charges in uk r a big con 
. and yeah, fossil fuel extraction in gulf of mexico r record high but what about environmental impact? 
they're just gonna exploit more oil & gas till 2030 & then what? 
and it's awesome they're killing it in Brazil and the Gulf of Mexico 
️. But at the same time, I think it's wild that they're making so much money while everyone else is struggling with inflation and stuff 
.
Maybe Shell is doing what it needs to do to stay afloat in an unstable market 
. Whatever, I guess only time will tell 
.
but at what cost? I mean, sure, it's nice that Shell's doing well and all, but have you seen the environmental impact of those oil and gas operations? Brazil and the Gulf of Mexico are already dealing with devastating consequences from extraction. And now they're facing tax charges just because Russia invaded Ukraine? It feels like companies like Shell are just using loopholes to get rich while the planet suffers 
. The fact that they're facing tax charges and still making record profits feels like a double standard to me 
. I mean, if global oil prices are plummeting, shouldn't Shell be rethinking its priorities? 
. It's like they're playing the short-term game while ignoring the long-term consequences of their actions 
.
. What about the communities affected by their operations? The one in Brazil that's being drained dry? The North Sea where they're pushing out fishermen for profits?
. At least I know what I'm getting paid for, unlike some fossil fuel companies who get bailed out by governments.
.
" - Peter Thiel 
. The fact that they're buying back shares like there's no tomorrow 
. And let's not forget the tax charges they're facing – at least they're contributing to their fair share 
.
It's time for us to move forward and find alternative energy sources that won't harm our planet 
. i get that they need to make a profit, but can't they at least try to reduce their impact on the environment? 
it's like, yeah, you've got $43 billion in profits, but what about the future of our planet? 
.
. It sounds like just another way for Shell to artificially inflate their stock price and lining the pockets of their shareholders 
.
. We're still relying on fossil fuels as our primary source of energy, and it's unsustainable in the long run 
Like, I get that Shell has some sweet assets in Brazil and the Gulf, but isn't it time to start thinking about the future instead of just trying to squeeze every last penny out of us? 
And those tax charges... ugh, still got a bad taste in my mouth from all the Exxon Valdez stuff back in the 80s 
! Of course, there are some challenges like tax charges and concerns over the North Sea, but Shell seems to be handling them well. They've got a strong balance sheet and a solid plan for the future. And let's not forget their buyback program - that's just good business sense 
. And can we talk about how Shell's buyback program is happening right under our noses? Like, shouldn't they be investing in cleaner energy instead of buying up more shares? 
. Maybe it's time for Shell to step up its game and become more sustainable? 
and everyone's just like "meh" about it? Like, I get it, they're doing their thing, but $43 billion is a pretty big deal. And yeah, it's good that production is up, but don't pretend like you're not profiting from fossil fuels. 
Meanwhile, tax charges in the UK and concerns over the North Sea are just, like, totally ignored. 
