Shell plc

Shell is one of the world's largest LNG traders and operates extensive pipeline, gas storage, and LNG regasification infrastructure globally. Midstream fossil fuel transport and processing is a core segment.

Shell plc supplied approximately 5% of Israel's total crude oil imports between October 2023 and July 2024, sourced from production in Azerbaijan, Kazakhstan, and Italy. Oil Change International's "Behind the Barrel" analysis documents these shipments. Israel relies entirely on imported crude; AFSC Investigate notes that imported oil is refined domestically by Bazan, Delek, Paz, and Sonol, companies that operate gas stations in illegal settlements in the occupied West Bank and East Jerusalem. Shell's crude enters an Israeli refining and distribution chain that serves both the military and the settlement economy.

Shell plc is an integrated energy company whose core business remains the exploration, extraction, and production of oil and natural gas. The company reported total oil and gas production of approximately 1.8 million barrels of oil equivalent per day in 2024. Its upstream operations are a primary driver of its financial performance, with its Exploration & Production segment generating $178 billion in revenue for the year.

Despite public commitments to reduce the carbon intensity of its energy products, Shell continues to allocate significant capital to maintaining and expanding its fossil fuel portfolio. The company’s proved developed oil and gas reserves stood at 4.9 billion barrels of oil equivalent at the end of 2024. However, recent analysis indicates Shell’s total proved oil reserves have fallen to their lowest level since 2013, highlighting the challenge of replacing production through exploration. The company is reportedly facing a production shortfall of 350,000 to 800,000 barrels per day over the medium term, underscoring the material scale of its upstream operations.