---
title: Shell announces scandalous fossil fuel profits as Europe burns
date: 2026-07-30T07:43:01Z
modified: 2026-07-30T07:52:03Z
permalink: "https://350.org/press-release/shell-announces-scandalous-fossil-fuel-profits-as-europe-burns/"
type: press-release
status: publish
excerpt: ""
wpid: 175531602
author: kimbryan
---

# **Shell announces scandalous fossil fuel profits as Europe burns**

As catastrophic wildfires tear across Europe, communities are forced to flee their homes, firefighters battle blazes around the clock, and families continue to face soaring living costs,[ the Dutch-British oil major Shell](https://www.theguardian.com/business/2026/jul/30/shell-profits-double-jump-oil-gas-prices) has announced another quarter of scandalous fossil fuel profits.

Scientists have concluded that human-caused climate change, driven primarily by the burning of coal, oil and gas, is making heatwaves across Europe more frequent, more intense and longer lasting. These hotter, drier conditions are creating the ideal environment for large, fast-moving wildfires, stretching emergency services and causing widespread damage to homes, infrastructure, agriculture and ecosystems.

The economic impacts are equally severe. Fossil fuel price shocks continue to drive up the cost of energy, transport and food, leaving households and businesses exposed to volatile global oil and gas markets. At the same time, governments are spending billions responding to climate disasters and rebuilding damaged communities, while fossil fuel companies continue to report multi-billion-dollar profits and return billions more to shareholders through dividends and share buybacks.

**Ellie May, 350.org, said:**

“It’s not right that as firefighters risk their lives and families across the UK and Europe face extreme heat, fossil fuel companies like Shell post some of their highest profits in history. Fossil fuel companies have known for decades that their products drive climate change, yet they continue to ramp up production while cashing in on the very crises they help create. That’s why calls are growing across the political spectrum – for a proper global profits tax – so the industry pays towards the recovery and protection people need. It’s simple fairness: those who caused the damage and profited from it should pay to fix it, not the families already struggling to cover the bills or the emergency workers risking their lives.”

**Smith Nwokocha, Coordinator at Quest For Growth and Development Foundation in Nigeria, said:**

“Shell’s soaring quarterly profits are built on decades of extracting wealth from communities in Africa and elsewhere that continue to bear the costs of pollution, extreme weather impacts, and lost livelihoods. There is nothing to celebrate when corporate gains come at the expense of people’s health, human rights, and a livable future. It’s time for Shell to pay its fair share in taxes – revenue that should go toward repairing the harm it has caused and funding a Just Transition, with investment in clean energy, resilient infrastructure, and economic opportunity for the communities who have carried this burden for far too long.”

**Renske Wienen, Executive Director of Fossil Free Netherlands, said:**

“We are living through climate extremes: devastating wildfires across France, Spain and other parts of Europe, water shortages in the Netherlands, and so many other extreme weather impacts around the world – and yet Shell is celebrating another hugely profitable quarter. While communities mourn their homes, their forests and their future, fossil fuel companies continue to make billions. Polluters profit, we pay. It is long past time that companies like Shell are taxed fairly and made to pay for the damage they have caused.”

**Sandra Molenaar, CEO of Consumentenbond, said:**

“Dutch consumers continue to struggle with rising energy costs. In the Netherlands, variable gas tariffs are now around 12% higher than before the conflict with Iran. For many households, energy remains one of the biggest financial concerns. While consumers are paying more, fossil fuel companies are expected to report enormous profits. Revenues from taxing these windfall profits should be used to help consumers reduce their dependence on fossil fuels.”

**ENDS**

**About 350.org**

350.org is an international climate movement working to end the age of fossil fuels and build a world powered by community-led renewable energy for all.

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