Shell reported adjusted earnings of $3.3 billion for the fourth quarter of 2025, representing a 39% decrease compared to the third quarter. For the full year, the company’s adjusted earnings reached $18.5 billion, a decline of $5.2 billion from the previous year.

Moreover, the company’s Cash Flow from Operations (CFFO) reached $9.4 billion in Q4 2025, compared to $12.21 billion in Q3 2025. Shell said that these results are supported by ” strong operational performance in Upstream and Integrated Gas in a lower price environment, offset by year-end movements.”

Regarding Operational results, Shell delivered total production of 1.9 million barrels of oil equivalent per day (mmboe/d) in Q4 2025 which came in line with expectations, giving outlook to become between 1.7 and 1.9 mmboeld in the first quarter (Q1) of 2026.

Furthermore, the company’s sales volume of liquified natural gas (LNG) amounted to 19.8 million tons (mmt) in Q4 2025, compared to 18.9 mmt in Q3 2025.

Shell is one of the world’s largest integrated energy companies, with operations spanning oil and gas exploration, LNG production and trading, refining, petrochemicals, and low-carbon energy solutions. Founded in 1907 and headquartered in London, Shell operates in more than 70 countries and is a leading global supplier of liquefied natural gas, playing a central role in international energy markets. In recent years, the company has been balancing its traditional hydrocarbons business with investments in renewables, hydrogen, and carbon-reduction technologies as part of its energy transition strategy.