SNP and Scottish Greens criticize Shell profits and UK energy fund allocation

The Scottish Greens and the SNP have issued criticisms regarding the distribution of oil and gas revenues and the profitability of energy giants. Shell reported an adjusted profit of £8.1 billion in the last quarter, exceeding analyst expectations of £7.75 billion. The Scottish Greens characterized these profits as “obscene,” arguing that while the company benefits from global conflict and climate instability, households face rising costs and difficulty affording heating and food.

Simultaneously, the SNP is demanding that the UK Labour Government ensure revenues from Scotland’s oil and gas industry are not used to fund nuclear energy projects in England. Following the approval of the Jackdaw gas field and the announcement of a new £2 billion energy wealth fund intended for the climate transition, SNP depute leader Keith Brown urged that the fund be ring-fenced for Scotland’s renewable energy future. The party expressed concern that North Sea revenues might be diverted to support English nuclear power rather than the renewable transition in northeast Scotland.