Climate campaigners attack Shell over ‘windfall’ profits from Iran war

Firm benefits from conflict to rake in $6.9bn as higher energy prices turbocharge profits Shell has reported better than expected profits of $6.9bn (£5bn) after its oil traders reaped the benefits of soaring energy prices during the war in Iran, angering climate campaigners. Europe’s biggest oil and gas company posted a 115% jump in first-quarter profits from the $3.2bn reported in the last three months of 2025. The profits easily surpassed the $6.4bn forecast by City analysts, and were 24% up on the $5.6bn profit recorded in the same period a year earlier. Shell’s chief executive, Wael Sawan, said the company’s profits had been gained through its “relentless focus on operational performance in a quarter marked by unprecedented disruption in global energy markets”. In addition to windfall profits, the war will deliver a 5% dividend hike for Shell’s investors. The company’s chief financial officer, Sinead Gorman, said shareholder payouts reflected the “confidence we have in the long-term cash flows of the company”. The environmental campaigner and broadcaster Chris Packham accused the company of “profiting from illegal wars and burning up our one and only homeâ€

May 7, 2026 → May 7, 2026