By Ali Elias
Shell plc has reported $5.6 billion in adjusted earnings for Q1 2025, a 52% jump from the previous quarter but still 27% lower year-on-year. The performance beat analysts’ expectations of $5 billion and was supported by strong results across all business segments.
The oil major also announced a $3.5 billion share buyback, continuing a streak of quarterly repurchases since 2021. However, free cash flow fell to $5.3 billion, down from $9.8 billion in Q1 2024, mainly due to softer oil prices.
Shell’s Integrated Gas division led the way with $2.5 billion in earnings, followed by Upstream at $2.3 billion and Chemicals and Products at $449 million.
CEO Wael Sawan said in a statement:
“Shell delivered another solid set of results in the first quarter of 2025. We further strengthened our leading LNG business by completing the acquisition of Pavilion Energy… Our strong performance and resilient balance sheet give us the confidence to commence another $3.5 billion of buybacks.”
Meanwhile, Shell continues to face criticism for rolling back its carbon reduction targets. The company recently abandoned its goal of a 45% carbon footprint cut by 2035, and lowered its 2030 emissions intensity reduction target from 20% to 15–20%.
Charlie Kronick, senior climate adviser at Greenpeace UK, condemned the move:
“Shell is reporting billions in profits in the same week the UK is warned it’s not doing enough to tackle floods and wildfires… Oil giants are making a fortune. It’s their mess—they should pay to clean it up.”
Kronick called for new taxes on top polluters to fund climate resilience and emergency response.
Read the full report from our source: MSN