British oil and gas giant Shell reported a 23% decline in net profit for the first half of 2025, citing weaker oil and gas prices and a challenging global economic environment.
According to its earnings statement released on Thursday, Shell posted a net profit of $8.4 billion, down from $10.9 billion in the same period in 2024. Revenue also fell by nearly 9%, dropping to $136.6 billion.
The company attributed the profit decline to “lower realised liquids and gas prices.” CEO Wael Sawan acknowledged the impact of a “less favourable macro environment” on operations.
Energy prices have been under pressure amid concerns that U.S. President Donald Trump’s tariffs could hinder global economic growth, while increased oil output from OPEC+ nations has added to the market glut.
Despite the drop in earnings, Shell announced plans to buy back $3.5 billion worth of shares, ahead of the reopening of the London Stock Exchange.
