Shell: ‘Misery profiteers’ post ‘immoral’ haul

Climate campaigners have said that oil giants Shell are “profiting from misery” after its announcement of £7.37billion profits (US$ 9.8 billion) in the last three months, largely from increased oil prices due to the US – Israeli war on Iran.  

This was more than double Shell’s profits from the second quarter of 2025. Shell made over £80million every day or £3.36million every hour. Shell immediately pledged to spend around one third of these profits on buying back shares in the company.  

Thousands of people have been killed in the Iran conflict and the global economy has been rocked by the violence and the closure of the Strait of Hormuz. 

Meanwhile, large parts of Europe have been engulfed in deadly wildfires, in extreme hot weather driven by the burning of fossil fuels. Climate campaigners said it is “immoral” for these companies to still be drilling and selling oil and gas which will worsen the extreme weather. 

Despite surging profits in recent months, the SNP, the Conservatives and Reform are still calling for the Windfall Tax on the excessive profits of energy companies to be scrapped.  Leading energy firms have made £125 billion in profits on their UK operations since the energy bills crisis started with the Russian invasion of Ukraine. 

Friends of the Earth Scotland’s just transition campaigner Catrina Randall Hampton said: 

“People are dying and facing rising bills around the world as Shell rakes in vast profits from the misery of the Iran war.  

“The immoral profiteers who run these companies don’t care about the impact of their oil and gas on people or the environment. 

“When you realise it is the same culprits who are causing record breaking heatwaves and soaring energy bills, it is infuriating that we are not moving faster to transition to renewable power. 

“Too many politicians are still pleading for Shell to keep more of its profits, rather taxing them properly and supporting the fire brigade putting out the fires that Shell are fueling. This position was always indefensible but those SNP politicians look even more out of touch today.”  

“ Scotland has the workforce, the resources, and the expertise to build an energy system that brings down bills, is based on renewables and run in the public interest. Taking climate action will help keep people safer and improve lives – whether that’s through cheaper bills, warmer homes, or better public transport.“