Shell - statistics & facts

Company financials and the effect of the 2020 oil crisis

Shell generated over 260 billion U.S. dollars in revenue in 2021. The previous year, reduced transportation fuel demand following the coronavirus pandemic notably impacted the company’s operations. In its 2020 fiscal year, Shell’s revenue fell by nearly one half, reaching 180.54 billion U.S. dollars. This was lower than the revenue reported during previous oil crisis such as in 2009 and between 2015 and 2016. The majority of Shell’s revenue is generated by its downstream segment, particularly through sales of oil products. When mobility restrictions and lockdowns meant that automotive and aviation fuel demand declined, the company’s sales were similarly affected and led to a 50 percent year-on-year reduction in oil products' revenues. All of this contributed to Shell reporting a historic net loss of over 20 billion U.S. dollars in 2020. However, the following year, the company was back to reporting net profits.

Upstream operations

Shell’s oil and gas reserves have been decreasing over the last few years. This was particularly true for reserves held within joint ventures and by associates. As for reserves within its own subsidiaries, the company reported 8.46 billion barrels of oil and oil equivalent gas in proved reserves for 2021. Most of Shell’s oil and gas liquids production is located in Asia. Subsidiaries and joint ventures in the region added nearly 220 million barrels to the company’s total output. Its activities were responsible for some 50 metric tons of petroleum, gas, and petroleum products being spilled in 2021, the lowest volume in the 15-year reporting period.

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