British energy giant Shell on Friday reported a sharp drop in first-quarter net profit as it was hit by weaker oil prices but pushed ahead with shareholder returns.
Profit attributable to shareholders fell 35 percent to 4.8 billion in the first quarter of 2025 from a year earlier, Shell said in an earnings statement.
Total revenue dropped six percent to 70.2 billion.
Shell and other oil majors have been hit by a recent slump in crude prices on fears that US President Donald Trumps tariffs could cause a slowdown in the global economy, impacting demand.
But the company did manage to beat analysts expectations and announced sizeable shareholder payouts.