Operational Highlights

Operational highlights included an 11 % growth in LNG sales, exceeding the 4‑5 % annual target, and a 70 % attainment of the company’s Scope 1 and 2 emission‑reduction goal for 2030 relative to 2016 levels. Mobility and lubricants ROACE rose to over 15 % and 21 % respectively, while reserve life fell by 15 %, raising long‑term resource concerns. The company’s gearing remains at 21 %, or 9 % excluding leases, and its dividend payout is positioned at the top end of the 40 %–50 % of cash‑free‑flow target range for 2025. Shell’s Capital Markets Day on 2‑3 November 2025 reiterated its strategy to increase production, cut costs, and invest in new opportunities while committing to a net‑carbon‑intensity reduction of at least 50 % by 2030 and net‑zero emissions by 2050. The company also faces a lawsuit from survivors of a typhoon in the Philippines, who claim Shell’s carbon emissions contributed to climate change.