Shell’s net profit rose 11% to $17.84bn in 2025 as higher volumes and lower costs offset falling oil and gas prices

British energy giant Shell reported an 11 per cent increase in net profit for 2025, as higher production volumes and lower costs helped offset falling oil and gas prices.

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The company’s profit after tax rose to $17.84 billion in 2025 from $16.1 billion in 2024, according to a statement released Thursday.

Energy prices faced pressure last year amid concerns that US tariffs could slow economic growth and as OPEC+ nations increased output.

Prices briefly rallied following heightened tensions between Washington and Tehran over Iran, but eased thereafter.

Shell’s underlying earnings, which exclude certain energy-price movements and one-off charges, fell 22 per cent to $18.53 billion.

In the fourth quarter alone, net profit dropped 22 per cent from the previous quarter, to $4.1 billion.

“In Q4, despite lower earnings… cash delivery remained solid,” Chief Executive Wael Sawan said.

The company announced a dividend increase and a $3.5 billion share buyback programme.

Shell is also shifting focus back to fossil fuels, ending participation in two North Sea offshore wind projects.

The move reflects a broader industry trend of scaling back climate objectives in favour of higher-margin oil and gas operations.

Also read: Wema Bank posts strong N193bn profit in 2025 results

Rival BP is expected to release its 2025 earnings next week and has indicated it will take up to a $5 billion write-down on its energy operations.