Unite: Shell profits show its time to ‘pull plug’ on energy profiteering

Commenting on Shell’s full year profits, released today, Unite general secretary Sharon Graham said:

“Shell continues its profiteering spree, raking in a staggering £42 billion – the second highest earnings in the company’s history. Once again, a profiteer is allowed to plough billions into share buybacks to boost returns for shareholders that could be better used to bring down our energy bills. It’s time to pull the plug on energy profiteering.”

Notes to editors: 

• Shell continues to reap the rewards of soaring energy prices, reporting astounding profits of £5.8 billion in Q4 2023 bringing the year’s grand total to £22 billion 
• Cash flow from operations in 2023 surged to a staggering £42 billion – the second highest in the company’s history
• Shareholders pocketed a record £19 billion in dividends and share buybacks, surpassing targets, with further expansions on the horizon
• Shareholders have thrived on £48 billion in dividends and buybacks since 2021 – that’s roughly £1,700 per UK household