Marketing was Shell’s largest segment in fiscal 2025, bringing in $111.86B of $266.89B (42%).
| Segments [axis] | FY 2015 | FY 2016 | FY 2017 | FY 2018 | FY 2019 | FY 2020 | FY 2021 | FY 2023 | FY 2024 | FY 2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| Oil Products | — | — | — | |||||||
| Downstream | — | — | — | |||||||
| Marketing | $130.56B | $120.09B | $111.86B | |||||||
| Chemicals & Products | $97.08B | $90.92B | $77.07B | |||||||
| Integrated Gas | $37.65B | $37.29B | $38.46B | |||||||
| Renewables & Energy Solutions | $44.82B | $29.37B | $34.36B | |||||||
| Chemicals | — | — | — | |||||||
| Upstream | $6.48B | $6.61B | $5.11B | |||||||
| Corporate | $42.00M | $43.00M | $39.00M | |||||||
| Total | $316.62B | $284.31B | $266.89B |
Shell brought in $266.89B from its six segments in fiscal 2025, the year ended December 31, 2025. That was down 6.1% from $284.31B in fiscal 2024. Marketing was the largest at $111.86B (41.9%), ahead of Chemicals & Products at $77.07B (28.9%) and Integrated Gas at $38.46B (14.4%). The other three segments brought in $39.50B combined.
Compared with fiscal 2024, Renewables & Energy Solutions grew fastest, up 17.0% to $34.36B, while Chemicals & Products fell the most, down 15.2% to $77.07B. From fiscal 2023 to 2025, combined revenue from these segments fell from $316.62B to $266.89B, a compound annual decline of 8.2%. Marketing's share of the total rose from 41.2% to 41.9%.
Europe was Shell’s largest region in fiscal 2025, bringing in $91.81B of $266.89B (34%).
| Geography | FY 2015 | FY 2016 | FY 2017 | FY 2018 | FY 2019 | FY 2020 | FY 2021 | FY 2022 | FY 2023 | FY 2024 | FY 2025 |
|---|---|---|---|---|---|---|---|---|---|---|---|
| Asia, Oceania, Africa | $126.64B | $99.97B | $98.34B | $90.84B | |||||||
| Asia Oceania & Africa | — | — | — | — | |||||||
| Europe | $135.98B | $118.14B | $92.48B | $91.81B | |||||||
| European Union | — | — | — | — | |||||||
| Usa | $87.09B | $70.29B | $65.09B | $57.73B | |||||||
| United States | — | — | — | — | |||||||
| Other Americas | $31.61B | $28.23B | $28.40B | $26.51B | |||||||
| Total | $381.31B | $316.62B | $284.31B | $266.89B |
Shell brought in $266.89B from its four regions in fiscal 2025, the year ended December 31, 2025. That was down 6.1% from $284.31B in fiscal 2024. Europe was the largest at $91.81B (34.4%), ahead of Asia, Oceania, Africa at $90.84B (34.0%) and Usa at $57.73B (21.6%). The remaining region, Other Americas, brought in $26.51B.
Compared with fiscal 2024, every region above 2% of revenue shrank. Europe held up best, down 0.7% to $91.81B, and Usa fell the most, down 11.3% to $57.73B. From fiscal 2022 to 2025, combined revenue from these regions fell from $381.31B to $266.89B, a compound annual decline of 11.2%. Europe's share of the total fell from 35.7% to 34.4%.
Shell (SHEL) reports its revenue by segments [axis] and by geography. In fiscal 2025, Marketing was its largest segment, bringing in $111.86B (41.9% of the total), followed by Chemicals & Products at $77.07B (28.9%).
Marketing was Shell's largest segment in fiscal 2025, bringing in $111.86B, or 41.9% of the $266.89B total across its six segments.
Europe was Shell's largest region in fiscal 2025, bringing in $91.81B, or 34.4% of the $266.89B total across its four regions.
Among Shell's segments that make up at least 2% of revenue, Renewables & Energy Solutions grew fastest in fiscal 2025, up 17.0% from $29.37B to $34.36B.
Every figure comes from Shell's annual financial filings, as reported. Each line keeps the name Shell gives it, and years follow its fiscal calendar.
Shell's revenue by segments [axis] goes back to fiscal 2015, with figures through fiscal 2025. The latest four fiscal years are free to view, and the full history is available with a Business Quant subscription.