CAMPAIGNERS slammed Shell for trading on the misery of millions trapped in fuel poverty today, as the oil giant announced billions in profits.

Although its earnings dropped from £22.8 billion in 2023, Shell still brought in £19.1bn last year.

The company attributed the drop to write-offs in oil exploration and lower oil prices. 

Despite the loss, it announced it will boost shareholder dividends by 4 per cent and said it gave over £18.2bn to shareholders in 2024. 

Chief executive Wael Sawan said that cash flow remained “solid” at £32bn across the year and that the firm had cut £2.4bn in costs.

Warm This Winter spokeswoman Caroline Simpson said: “Shell’s obscene profits may have dipped a bit this quarter, but this one oil giant has made over £88bn since 2020, trading on the misery of 6.5 million people in the UK in official fuel poverty and every single bill payer — we are all forking out a whopping £700 more on energy than we did since the start of the crisis.

“The only way to secure the UK’s energy supply and bring down bills for good is by continuing to ramp up our supply of home-grown renewable energy.”

Scottish Greens’ climate spokesman Mark Ruskell MSP said: “These companies should be investing their profits in a renewable future rather than buying back shares and offering eye-watering dividends.

“Leaving fossil fuels in the ground and going green is the only way to secure our future and ensure a liveable planet for generations to come.”