British energy giant Shell has reported a 23% decline in net profit for the first half of 2025, citing weaker oil and gas prices as the main factor behind the slump.
According to its earnings statement released on Thursday, July 31, 2025, the company’s profit after tax fell to $8.4 billion, down from $10.9 billion recorded during the same period in 2024. Group revenue also declined by nearly 9%, coming in at $136.6 billion.
Shell attributed the weaker performance to “lower realised liquids and gas prices,” while Chief Executive Wael Sawan noted that the company has been navigating “a less favourable macro environment.”
Global energy prices have been under pressure in recent months due to market concerns over the economic impact of tariffs introduced by U.S. President Donald Trump, as well as increased oil output from OPEC+ member countries.
Despite the downturn, Shell announced plans to boost shareholder returns with a $3.5 billion share buyback, as markets prepared for the London stock exchange to reopen.
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