Shell’s profits ‘obscene’ as European oil majors’ profits surge by 43%
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As Shell announces bumper Q1 profits of $6.9 billion, new analysis from Global Witness reveals that six of Europe’s leading oil majors – bp, Shell, TotalEnergies, Eni, Equinor and Repsol – have recorded the highest quarterly profits since 2022, when they reaped the benefits of the fallout from Russia’s war on Ukraine. In the first quarter of 2026, the combined $21.7 billion* in quarterly profits recorded by bp, Repsol, TotalEnergies, Eni and Equinor was 43% higher than the same period last year
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