{"organism":"Page","children":[{"organism":"Container.Raw","children":[{"organism":"Metadata","model":{"title":"Stories of Shell in 2025","text":"In 2025, Shell continued to do what it has done for more than a century: help safely deliver the energy the world relies on to move, work and grow. Discover some of the stories bringing to life the people, projects and innovations helping make this possible.","links":[{"name":"Stories of Shell in 2025","value":"https://www.shell.com/news-and-insights/our-stories/stories-of-shell-in-2025.html"}],"image":{"src":"https://www.shell.com/news-and-insights/our-stories/stories-of-shell-in-2025/_jcr_content/root/metadata.shellimg.png/1765029076640/banner-image-year-of-shell.png","width":3708,"height":2092},"date":"2025-12-09T12:30:00Z","tags":[{"name":"Oil and gas","value":"shell:components/filter-container/topic/oil-and-gas"},{"name":"Liquefied natural gas (LNG)","value":"shell:components/filter-container/topic/liquefied-natural-gas-(lng)"},{"name":"Energy transition","value":"shell:components/filter-container/topic/energy-transition"},{"name":"Technology and innovation","value":"shell:components/filter-container/topic/technology-and-innovation"}]},"id":"/content/shell/corporate/global/en_gb/news-and-insights/our-stories/stories-of-shell-in-2025/jcr_content/root/metadata"},{"organism":"ContentOwner","model":{},"id":"/content/shell/corporate/global/en_gb/news-and-insights/our-stories/stories-of-shell-in-2025/jcr_content/root/contentowner"},{"organism":"Container.Header","children":[{"organism":"Container.Raw","ref":"https://www.shell.com/_jcr_content/root/header/inherited.model.json","id":"/content/shell/corporate/global/en_gb/news-and-insights/our-stories/stories-of-shell-in-2025/jcr_content/root/header/inherited","model":{}},{"organism":"Breadcrumb","model":{"links":[{"name":"Home","value":"https://www.shell.com/"},{"name":"News and insights","value":"https://www.shell.com/news-and-insights.html"},{"name":"Our stories","value":"https://www.shell.com/news-and-insights/our-stories.html"},{"name":"Stories of Shell in 2025","value":"https://www.shell.com/news-and-insights/our-stories/stories-of-shell-in-2025.html"}]},"id":"/content/shell/corporate/global/en_gb/news-and-insights/our-stories/stories-of-shell-in-2025/jcr_content/root/header/breadcrumb"}],"id":"/content/shell/corporate/global/en_gb/news-and-insights/our-stories/stories-of-shell-in-2025/jcr_content/root/header","model":{}},{"organism":"Container.Main","children":[{"organism":"Container.Section","children":[{"organism":"PageHeader","color":"inherited","model":{"title":"Stories of Shell in 2025","text":"\u003Cp\u003EDecember 9, 2025\u003C/p\u003E\r\n\u003Cp\u003EIn 2025, Shell continued to do what it has done for more than a century: help safely deliver the energy the world relies on to move, work and grow.&nbsp;Discover some of the stories bringing to life the people, projects and innovations helping make this possible.\u003C/p\u003E\r\n","image":{"src":"https://www.shell.com/news-and-insights/our-stories/stories-of-shell-in-2025/_jcr_content/root/main/section/page_header.shellimg.png/1767614571844/banner-image-year-of-shell.png","width":3705,"height":927},"date":"2025-12-09T12:30:00Z"},"id":"/content/shell/corporate/global/en_gb/news-and-insights/our-stories/stories-of-shell-in-2025/jcr_content/root/main/section/page_header"},{"organism":"PromoSimple.Text","color":"inherited","id":"/content/shell/corporate/global/en_gb/news-and-insights/our-stories/stories-of-shell-in-2025/jcr_content/root/main/section/text","model":{"text":"\u003Cp\u003EOur stories in 2025&nbsp;– and the work&nbsp;they spotlight – have spanned some of the year’s major developments in energy. Scroll to explore, or click the themes below to jump to a section.\u003C/p\u003E\r\n"}},{"organism":"CallToAction","color":"inherited","id":"/content/shell/corporate/global/en_gb/news-and-insights/our-stories/stories-of-shell-in-2025/jcr_content/root/main/section/call_to_action","model":{"links":[{"name":"Helping provide the secure energy the world needs","value":"#helping-provide-the-secure-energy--the-world-needs"},{"name":"Growing our market-leading LNG business","value":"#growing-our-market-leading-lng-business"},{"name":"Supporting customers through the energy transition","value":"#supporting-customers-through-the-energy-transition"}]}}],"id":"/content/shell/corporate/global/en_gb/news-and-insights/our-stories/stories-of-shell-in-2025/jcr_content/root/main/section","model":{}},{"organism":"Container.Section","color":"brand1-subtle","children":[{"organism":"PromoCard","color":"brand1","colspan":4,"id":"/content/shell/corporate/global/en_gb/news-and-insights/our-stories/stories-of-shell-in-2025/jcr_content/root/main/section_1617394413/promo_copy","model":{"title":"Whale: setting new standards for deep water","text":"\u003Cp\u003EWhale, Shell’s newest platform in the Gulf of America, began production in January and hit full production capacity in less than \u003Ca\u003Esix&nbsp;\u003C/a\u003Emonths – providing enough oil to fuel the daily journeys of 2.7 million cars in the United States. Whale will operate with 30% lower carbon intensity over its life cycle than Vito, another deep-water platform in the Gulf of America.\u003C/p\u003E\r\n","links":[{"name":"Read more","value":"https://www.shell.com/news-and-insights/our-stories/whale-setting-new-standards-for-deep-water.html"}],"image":{"src":"https://www.shell.com/news-and-insights/our-stories/stories-of-shell-in-2025/_jcr_content/root/main/section_1617394413/promo_copy.shellimg.jpeg/1765291312272/whale.jpeg","alt":"Whale, a Shell operated deep-water platform in the Gulf of Mexico, photographed against a clear, blue sky.","width":4784,"height":2696}}},{"organism":"PromoCard","color":"brand1","colspan":4,"id":"/content/shell/corporate/global/en_gb/news-and-insights/our-stories/stories-of-shell-in-2025/jcr_content/root/main/section_1617394413/promo_copy_75284980","model":{"title":"Into the deep: the ground-breaking technology transforming gas production at Ormen Lange","text":"\u003Cp\u003EIn Norway, a new subsea compression system is boosting energy supplies to homes and businesses across Europe. In the first year alone, it will unlock enough additional gas to heat the homes in a city the size of Barcelona.\u003C/p\u003E\r\n","links":[{"name":"Read more","value":"https://www.shell.com/news-and-insights/our-stories/into-the-deep-the-ground-breaking-technology-transforming-gas-production-at-ormen-lange.html"}],"image":{"src":"https://www.shell.com/news-and-insights/our-stories/stories-of-shell-in-2025/_jcr_content/root/main/section_1617394413/promo_copy_75284980.shellimg.jpeg/1765301234146/group-of-people-dicussing.jpeg","alt":"Shell expert working in lab","width":8217,"height":4631}}},{"organism":"PromoCard","color":"brand1","colspan":4,"id":"/content/shell/corporate/global/en_gb/news-and-insights/our-stories/stories-of-shell-in-2025/jcr_content/root/main/section_1617394413/promo","model":{"title":"What does it take to design a vast and complex offshore oil and gas facility?","text":"\u003Cp\u003EAfter Shell took a final investment decision on Gato do Mato, a major deep-water project off the coast of Brazil, three colleagues lifted the lid on the ingenuity and persistence behind the milestone.\u003C/p\u003E\r\n","links":[{"name":"Read more","value":"https://www.shell.com/news-and-insights/our-stories/what-does-it-take-to-design-a-vast-and-complex-offshore-oil-and-gas-facility.html"}],"image":{"src":"https://www.shell.com/news-and-insights/our-stories/stories-of-shell-in-2025/_jcr_content/root/main/section_1617394413/promo.shellimg.jpeg/1765297972855/shell-brazil-dw.jpeg","alt":"Shell Brazil Refinery","width":3822,"height":2154}}}],"id":"/content/shell/corporate/global/en_gb/news-and-insights/our-stories/stories-of-shell-in-2025/jcr_content/root/main/section_1617394413","model":{"title":"Helping provide the secure energy  the world needs"}},{"organism":"Container.Section","color":"inherited","children":[{"organism":"PromoCard","color":"brand1-subtle","colspan":4,"id":"/content/shell/corporate/global/en_gb/news-and-insights/our-stories/stories-of-shell-in-2025/jcr_content/root/main/section_276990150/promo_copy_copy_copy","model":{"title":"LNG Canada: a new frontier in global gas supply","text":"\u003Cp\u003ELNG Canada – the largest private-sector investment in Canada’s history – began operations. With a capacity roughly equivalent to the natural gas used in Singapore and Vietnam combined in 2024, the project will help meet growing demand for a critical fuel in the energy transition, especially in Asia.\u003C/p\u003E\r\n","links":[{"name":"Read more","value":"https://www.shell.com/news-and-insights/our-stories/lng-canada-a-new-frontier-in-global-gas-supply.html"}],"image":{"src":"https://www.shell.com/news-and-insights/our-stories/stories-of-shell-in-2025/_jcr_content/root/main/section_276990150/promo_copy_copy_copy.shellimg.png/1765271676983/lng-canada-ship-ocenview.png","alt":"LNG Canada: a new frontier in global gas supply","width":3840,"height":2163}}},{"organism":"PromoCard","color":"brand1-subtle","colspan":4,"id":"/content/shell/corporate/global/en_gb/news-and-insights/our-stories/stories-of-shell-in-2025/jcr_content/root/main/section_276990150/promo_copy_copy_copy_200092158","model":{"title":"Watch: why India is turning to LNG","text":"\u003Cp\u003EIndia, one of the world’s fastest-growing economies, is one country turning to liquefied natural gas (LNG) to help meet soaring energy demand. Watch this short film to explore how LNG is helping to power industry and improve energy security, while offering a lower-carbon alternative to coal.\u003C/p\u003E\r\n","links":[{"name":"Read more","value":"https://www.shell.com/news-and-insights/our-stories/watch-why-india-is-growing-lng-in-its-energy-mix.html"}],"image":{"src":"https://www.shell.com/news-and-insights/our-stories/stories-of-shell-in-2025/_jcr_content/root/main/section_276990150/promo_copy_copy_copy_200092158.shellimg.png/1765298025568/page-header-hazira-three.png","alt":"Two shell workers standing on harbour","width":3840,"height":2163}}},{"organism":"PromoCard","color":"brand1-subtle","colspan":4,"id":"/content/shell/corporate/global/en_gb/news-and-insights/our-stories/stories-of-shell-in-2025/jcr_content/root/main/section_276990150/promo_copy_copy","model":{"title":"Behind the rise of LNG trucks in China","text":"\u003Cp\u003EIn just five years, the number of trucks powered by LNG in China has almost tripled, helping to reduce air pollution and reshape an industry long dominated by diesel.\u003C/p\u003E\r\n","links":[{"name":"Read more","value":"https://www.shell.com/news-and-insights/our-stories/behind-the-rise-of-lng-trucks-in-china.html"}],"image":{"src":"https://www.shell.com/news-and-insights/our-stories/stories-of-shell-in-2025/_jcr_content/root/main/section_276990150/promo_copy_copy.shellimg.png/1765302355489/lng-trucks.png","alt":"Shell fleet driver in cabin","width":3840,"height":2163}}}],"id":"/content/shell/corporate/global/en_gb/news-and-insights/our-stories/stories-of-shell-in-2025/jcr_content/root/main/section_276990150","model":{"title":"Growing our market-leading LNG business"}},{"organism":"Container.Section","color":"brand1-subtle","children":[{"organism":"PromoCard","color":"brand1","colspan":4,"id":"/content/shell/corporate/global/en_gb/news-and-insights/our-stories/stories-of-shell-in-2025/jcr_content/root/main/section_602330453/promo_copy_copy_copy_288406455","model":{"title":"Following the Northern Lights: inside a pioneering project","text":"\u003Cp\u003EThe world’s first commercial carbon transport and storage service began operating in Norway. Northern Lights, owned by Shell, Equinor and TotalEnergies, injected carbon dioxide&nbsp;(CO\u003Csub\u003E2\u003C/sub\u003E) collected from a cement factory 450 kilometres away into an aquifer beneath the North Sea. How does it work? Find out more about a pioneering project.\u003C/p\u003E\r\n","links":[{"name":"Read more","value":"https://www.shell.com/news-and-insights/our-stories/following-the-northern-lights-inside-a-pioneering-project.html"}],"image":{"src":"https://www.shell.com/news-and-insights/our-stories/stories-of-shell-in-2025/_jcr_content/root/main/section_602330453/promo_copy_copy_copy_288406455.shellimg.png/1765271692891/green-suit-workerview.png","alt":"Northern lights engineering manager","width":3840,"height":2163}}},{"organism":"PromoCard","color":"brand1","colspan":4,"id":"/content/shell/corporate/global/en_gb/news-and-insights/our-stories/stories-of-shell-in-2025/jcr_content/root/main/section_602330453/promo_copy_copy_copy_2036348204","model":{"title":"A really cool tech story","text":"\u003Cp\u003EShell’s innovative cooling technology can significantly reduce energy demand in data centres, the fast-expanding computing power behind artificial intelligence. Our immersion cooling fluids – special liquids that absorb and dissipate heat – were the&nbsp;first to receive official certification from major chip manufacturer&nbsp;Intel. Hear from the scientists helping keep vital hardware cool.\u003C/p\u003E\r\n","links":[{"name":"Read more","value":"https://www.shell.com/news-and-insights/our-stories/a-really-cool-tech-story.html"}],"image":{"src":"https://www.shell.com/news-and-insights/our-stories/stories-of-shell-in-2025/_jcr_content/root/main/section_602330453/promo_copy_copy_copy_2036348204.shellimg.jpeg/1765298086092/a-really-cool-tech-story.jpeg","alt":"Shell lab worker testing product","width":2982,"height":1677}}},{"organism":"PromoCard","color":"brand1","colspan":4,"id":"/content/shell/corporate/global/en_gb/news-and-insights/our-stories/stories-of-shell-in-2025/jcr_content/root/main/section_602330453/promo_copy_copy_copy","model":{"title":"From lab to F1 track: the science behind Scuderia Ferrari’s sustainable race fuel","text":"\u003Cp\u003EIn a year in which w\u003Ca\u003Ee also marked 75 years of partnership with \u003C/a\u003E\u003Ca\u003E\u003C/a\u003E\u003Ca\u003EScuderia Ferrari&nbsp;\u003C/a\u003E– one of motorsport’s most iconic collaborations – we also explored the science behind Shell’s advanced sustainable race fuel that will power the Scuderia Ferrari HP team in 2026. In this episode of The Energy Podcast, Shell scientist Valeria Loreti shares unique insights into fuelling the future of F1.\u003C/p\u003E\r\n","links":[{"name":"Read more","value":"https://youtu.be/uUbt9u2ZrXs"}],"image":{"src":"https://www.shell.com/news-and-insights/our-stories/stories-of-shell-in-2025/_jcr_content/root/main/section_602330453/promo_copy_copy_copy.shellimg.png/1765271700764/ferrari.png","alt":"F1 rider on kart","width":3840,"height":2163}}},{"organism":"PromoSimple.Text","color":"brand3-solid","id":"/content/shell/corporate/global/en_gb/news-and-insights/our-stories/stories-of-shell-in-2025/jcr_content/root/main/section_602330453/text","model":{"title":"Safety: underpinning everything we do at Shell","text":"\u003Cp\u003EWhat does a clear focus on safety look like in practice? In a turnaround, a plant is partially or completely shut down for maintenance, inspection, repairs and upgrading. Safely completing Shell’s largest ever turnaround – involving more than 16,000 workers contributing more than 9 million working hours between them at the Pearl GTL site in Qatar – called for three years of meticulous planning.\u003C/p\u003E\r\n","links":[{"name":"Read the story","value":"https://www.shell.com/news-and-insights/our-stories/putting-safety-first.html"}]}}],"id":"/content/shell/corporate/global/en_gb/news-and-insights/our-stories/stories-of-shell-in-2025/jcr_content/root/main/section_602330453","model":{"title":"Supporting customers through the energy transition"}},{"organism":"Container.Section","color":"inherited","children":[{"organism":"PromoFull.Right","color":"brand1-solid","id":"/content/shell/corporate/global/en_gb/news-and-insights/our-stories/stories-of-shell-in-2025/jcr_content/root/main/section_1198665290/promo","model":{"title":"Season 7 of The Energy Podcast","text":"\u003Cp\u003EHear from energy experts on topics like LNG and CCS, and catch the season finale with Shell CEO Wael Sawan.​\u003C/p\u003E\r\n\u003Cp\u003EListen or watch wherever you get your podcasts.\u003C/p\u003E\r\n","links":[{"name":"Read more","value":"https://www.youtube.com/playlist?list=PLEPIVJVCFQH2UrBUG6-ASOF-l1IWjNdKJ"}],"image":{"src":"https://www.shell.com/news-and-insights/our-stories/stories-of-shell-in-2025/_jcr_content/root/main/section_1198665290/promo.shellimg.jpeg/1765298232861/the-energy-podcast.jpeg","alt":"Season 7 of The Energy Podcast","width":5832,"height":3282}}},{"organism":"PromoSimple.Text","color":"inherited","id":"/content/shell/corporate/global/en_gb/news-and-insights/our-stories/stories-of-shell-in-2025/jcr_content/root/main/section_1198665290/text_599493947","model":{"text":"\u003Ch3\u003EFor more&nbsp;stories and insights&nbsp;from&nbsp;across&nbsp;Shell&nbsp;subscribe to&nbsp;our \u003Ca href=\"https://www.linkedin.com/newsletters/inside-energy-7313093951333298176/\" target=\"_blank\"\u003ELinkedIn newsletter.\u003C/a\u003E\u003C/h3\u003E\r\n"}},{"organism":"Container.List","children":[{"organism":"AccordionItem","color":"inherited","id":"/content/shell/corporate/global/en_gb/news-and-insights/our-stories/stories-of-shell-in-2025/jcr_content/root/main/section_1198665290/list/list_item","model":{"title":"Cautionary note","text":"\u003Cp\u003EThe companies in which Shell plc directly and indirectly owns investments are separate legal entities. In this content “Shell”, “Shell Group” and “Group” are sometimes used for convenience to reference Shell plc and its subsidiaries in general. Likewise, the words “we”, “us” and “our” are also used to refer to Shell plc and its subsidiaries in general or to those who work for them. These terms are also used where no useful purpose is served by identifying the particular entity or entities. ‘‘Subsidiaries’’, “Shell subsidiaries” and “Shell companies” as used in this content refer to entities over which Shell plc either directly or indirectly has control. The terms “joint venture”, “joint operations”, “joint arrangements”, and “associates” may also be used to refer to a commercial arrangement in which Shell has a direct or indirect ownership interest with one or more parties. The term “Shell interest” is used for convenience to indicate the direct and/or indirect ownership interest held by Shell in an entity or unincorporated joint arrangement, after exclusion of all third-party interest.\u003C/p\u003E\r\n\u003Cp\u003E\u003Cb\u003EForward-Looking statements\u003C/b\u003E\u003C/p\u003E\r\n\u003Cp\u003EThis content contains forward-looking statements (within the meaning of the U.S. Private Securities Litigation Reform Act of 1995) concerning the financial condition, results of operations and businesses of Shell. All statements other than statements of historical fact are, or may be deemed to be, forward-looking statements. Forward-looking statements are statements of future expectations that are based on management’s current expectations and assumptions and involve known and unknown risks and uncertainties that could cause actual results, performance or events to differ materially from those expressed or implied in these statements. Forward-looking statements include, among other things, statements concerning the potential exposure of Shell to market risks and statements expressing management’s expectations, beliefs, estimates, forecasts, projections and assumptions. These forward-looking statements are identified by their use of terms and phrases such as “aim”; “ambition”; ‘‘anticipate’’; “aspire”, “aspiration”, ‘‘believe’’; “commit”; “commitment”; ‘‘could’’; “desire”; ‘‘estimate’’; ‘‘expect’’; ‘‘goals’’; ‘‘intend’’; ‘‘may’’; “milestones”; ‘‘objectives’’; ‘‘outlook’’; ‘‘plan’’; ‘‘probably’’; ‘‘project’’; ‘‘risks’’; “schedule”; ‘‘seek’’; ‘‘should’’; ‘‘target’’; “vision”; ‘‘will’’; “would” and similar terms and phrases. There are a number of factors that could affect the future operations of Shell and could cause those results to differ materially from those expressed in the forward-looking statements included in this content, including (without limitation): (a) price fluctuations in crude oil and natural gas; (b) changes in demand for Shell’s products; (c) currency fluctuations; (d) drilling and production results; (e) reserves estimates; (f) loss of market share and industry competition; (g) environmental and physical risks, including climate change; (h) risks associated with the identification of suitable potential acquisition properties and targets, and successful negotiation and completion of such transactions; (i) the risk of doing business in developing countries and countries subject to international sanctions; (j) legislative, judicial, fiscal and regulatory developments including tariffs and regulatory measures addressing climate change; (k) economic and financial market conditions in various countries and regions; (l) political risks, including the risks of expropriation and renegotiation of the terms of contracts with governmental entities, delays or advancements in the approval of projects and delays in the reimbursement for shared costs; (m) risks associated with the impact of pandemics, regional conflicts, such as the Russia-Ukraine war and the conflict in the Middle East, and a significant cyber security, data privacy or IT incident; (n) the pace of the energy transition; and (o) changes in trading conditions. No assurance is provided that future dividend payments will match or exceed previous dividend payments. All forward-looking statements contained in this content are expressly qualified in their entirety by the cautionary statements contained or referred to in this section.&nbsp;Readers should not place undue reliance on forward-looking statements. Additional risk factors that may affect future results are contained in Shell plc’s Form 20-F&nbsp;and amendment thereto&nbsp;for the year ended December 31, 2024 (available at&nbsp;\u003Ca href=\"https://www.shell.com/investors/news-and-filings/sec-filings.html\"\u003Ewww.shell.com/investors/news-and-filings/sec-filings.html\u003C/a\u003E&nbsp;and&nbsp;\u003Ca href=\"http://www.sec.gov/\"\u003Ewww.sec.gov\u003C/a\u003E).&nbsp;These risk factors also expressly qualify all forward-looking statements contained in this content&nbsp;and should be considered by the reader. Each forward-looking statement speaks only as of the date of this content. Neither Shell plc nor any of its subsidiaries undertake any obligation to publicly update or revise any forward-looking statement as a result of new information, future events or other information. In light of these risks, results could differ materially from those stated, implied or inferred from the forward-looking statements contained in this content.\u003C/p\u003E\r\n\u003Cp\u003E\u003Cb\u003EShell’s net carbon intensity\u003C/b\u003E\u003C/p\u003E\r\n\u003Cp\u003EAlso, in this content\u003Cb\u003E&nbsp;\u003C/b\u003Ewe may refer to Shell’s “net carbon intensity” (NCI), which includes Shell’s carbon emissions from the production of our energy products, our suppliers’ carbon emissions in supplying energy for that production and our customers’ carbon emissions associated with their use of the energy products we sell. Shell’s NCI also includes the emissions associated with the production and use of energy products produced by others which Shell purchases for resale. Shell only controls its own emissions. The use of the terms Shell’s “net carbon intensity” or NCI is for convenience only and not intended to suggest these emissions are those of Shell plc or its subsidiaries.\u003C/p\u003E\r\n\u003Cp\u003E\u003Cb\u003EShell’s net-zero emissions target\u003C/b\u003E\u003C/p\u003E\r\n\u003Cp\u003EShell’s operating plan and outlook are forecasted for a three-year period and ten-year period, respectively, and are updated every year. They reflect the current economic environment and what we can reasonably expect to see over the next three and ten years. Accordingly, the outlook reflects our Scope 1, Scope 2 and NCI targets over the next ten years. However, Shell’s operating plan and outlook cannot reflect our 2050 net-zero emissions target, as this target is outside our planning period. Such future operating plans and outlooks could include changes to our portfolio, efficiency improvements and the use of carbon capture and storage and carbon credits. In the future, as society moves towards net-zero emissions, we expect Shell’s operating plans and outlooks to reflect this movement. However, if society is not net zero in 2050, as of today, there would be significant risk that Shell may not meet this target.\u003C/p\u003E\r\n\u003Cp\u003E\u003Cb\u003EForward-Looking non-GAAP measures\u003C/b\u003E\u003C/p\u003E\r\n\u003Cp\u003EThis content may contain certain forward-looking non-GAAP measures such as adjusted earnings and divestments. We are unable to provide a reconciliation of these forward-looking non-GAAP measures to the most comparable GAAP financial measures because certain information needed to reconcile those non-GAAP measures to the most comparable GAAP financial measures is dependent on future events some of which are outside the control of Shell, such as oil and gas prices, interest rates and exchange rates. Moreover, estimating such GAAP measures with the required precision necessary to provide a meaningful reconciliation is extremely difficult and could not be accomplished without unreasonable effort. Non-GAAP measures in respect of future periods which cannot be reconciled to the most comparable GAAP financial measure are calculated in a manner which is consistent with the accounting policies applied in Shell plc’s consolidated financial statements.\u003C/p\u003E\r\n\u003Cp\u003EThe contents of websites referred to in this content do not form part of this content.\u003Cb\u003E\u003C/b\u003E\u003C/p\u003E\r\n\u003Cp\u003EWe may have used certain terms, such as resources, in this content&nbsp;that the United States Securities and Exchange Commission (SEC) strictly prohibits us from including in our filings with the SEC. Investors are urged to consider closely the disclosure in our Form 20-F and any amendment thereto, File No 1-32575, available on the SEC website&nbsp;\u003Ca href=\"http://www.sec.gov/\"\u003Ewww.sec.gov\u003C/a\u003E.\u003C/p\u003E\r\n"}}],"id":"/content/shell/corporate/global/en_gb/news-and-insights/our-stories/stories-of-shell-in-2025/jcr_content/root/main/section_1198665290/list","model":{}}],"id":"/content/shell/corporate/global/en_gb/news-and-insights/our-stories/stories-of-shell-in-2025/jcr_content/root/main/section_1198665290","model":{"title":"Prefer to watch or listen? 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