Shell entered the second quarter of 2025 with a solid operating performance despite a less favourable environment due to lower oil and gas prices as well as weaker margins. The company was able to generate robust cash flow, continued to increase its LNG portfolio and announced further share buybacks. A strong balance sheet with low debt provides scope for shareholder returns without compromising investment discipline or planned capital expenditure.

Key highlights of the quarter included the launch of the first exports from the LNG Canada project, production expansions in Brazil and Nigeria, and continued structural cost savings of nearly $4 billion since 2022. These actions solidify Shell's position as one of the global LNG market leaders and confirm our long-term commitment to balanced growth and return on capital.

How was the last quarter?

Shell reported a second quarter 2025 adjusted profit of US$4.3 billion, down from the first quarter, but the result was achieved despite lower…