British energy giant Shell said Thursday that its net profit rose 11 percent last year as higher volumes and lower costs helped to offset falling oil and gas prices.
Profit after tax climbed to $17.84 billion in 2025 from $16.1 billion a year earlier, Shell said in a statement.
Energy prices faced pressure last year on concerns that US President Donald Trump’s tariffs would hurt economic growth. They dropped further as a result of higher output by OPEC+ nations.
More recently, prices have rallied as Trump ramped up military threats against major oil producer Iran, but have since cooled on easing tensions between Washington and Tehran.
Shell said its underlying earnings, which strip out some energy-price movements and one-off charges, dropped 22 percent to $18.53 billion last year.
In the fourth quarter alone, net profit fell 22 percent from the previous quarter, to $4.1 billion.
“In Q4, despite lower earnings… cash delivery remained solid,” chief executive Wael Sawan said in the statement.
He added that Shell was raising its dividend to shareholders and would begin a new share buyback programme worth $3.5 billion.
Following the update, Shell’s share price dropped 1.9 percent on London’s top-tier FTSE 100 index, which was down 0.5 percent overall.
