British oil major Shell has reported a 23% decline in net profit for the first half of 2025, citing a downturn in global energy prices. The group’s profit after tax fell to $8.4 billion, compared to $10.9 billion in the same period last year.
Revenue also declined by nearly 9%, dropping to $136.6 billion, according to the company’s earnings statement released on Thursday.
Shell attributed the decline to “lower realised liquids and gas prices.” Group CEO Wael Sawan acknowledged the impact of a “less favourable macro environment,” noting that concerns over U.S. tariffs under President Donald Trump and rising production by OPEC+ members have pressured global prices.
Despite the earnings slump, Shell announced plans to repurchase $3.5 billion in shares, ahead of the London stock market’s reopening, signaling confidence in its long-term outlook.
