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The Guardian - UK
The Guardian - UK
Business
Jillian Ambrose Energy correspondent

Shell’s half-year profits climb to £10.9bn after focusing on fossil fuels

Shell British Petroleum Global Justice Now
Shell logo of a yellow scallop-style shell with red borders
Results take the company’s total profits for the first half of the year to $14bn and its share buybacks to $7bn. Photograph: Chris Helgren/Reuters

Shell’s profits have climbed to $14bn (£10.9bn) for the first half of 2024 after its decision to focus on fossil fuels over low-carbon energy delivered stronger than expected earnings for a second consecutive quarter.

Europe’s biggest oil and gas company rewarded its shareholders with a further $3.5bn in share buybacks after reporting adjusted earnings of $6.3bn in the three months to the end of June.

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