René Muschter
Research Expert covering Industry & Mobility
Shell - statistics & facts
Shell regularly lists as the world’s oil and gas company with the highest brand value. The public company is involved along all supply chain verticals and one of the largest companies in the world. It was formed in the early 20th century out of a merger between a British and a Dutch petroleum producer to stave off U.S. companies’ market dominance. Since then, Shell has often been ranked among the top oil and gas companies based on revenue.
In 2024, Shell reduced its climate targets for 2030 and 2035 amid continued high demand for natural gas. The company expects to further grow its LNG business, although it has retained its 2050 net zero target. Shell hopes to achieve this by widening its renewables coverage alongside continued investment in oil and gas exploration.
Company financials
2024 was a slightly less profitable year for Shell than 2023, as crude oil prices and refining margins were lower than in previous years. In its 2024 fiscal year, Shell’s revenue stood at some 284 billion U.S. dollars. The majority of Shell’s revenue is generated by its Marketing segment, particularly through its retail business, which includes the sale of lubricants, fuels, and specialty products, as well as its electric vehicle charging infrastructure.Becoming an integrated energy company
After three years of gains, 2024 was the first year since 2020 that Shell’s oil and gas reserves decreased. The company’s oil and gas liquids production is largely located in Asia and South America. Subsidiaries and joint ventures in these regions added around 50 million barrels to the company’s total output in 2024. Its activities were responsible for some 3,000 metric tons of petroleum, gas, and petroleum products being spilled, with 2,000 metric tons related to sabotage acts on its Nigeria operations.In 2024, Shell reduced its climate targets for 2030 and 2035 amid continued high demand for natural gas. The company expects to further grow its LNG business, although it has retained its 2050 net zero target. Shell hopes to achieve this by widening its renewables coverage alongside continued investment in oil and gas exploration.
