Shell is to spend more money on share buybacks even though its first quarter net profits tumbled 15.2 percent to $7.4billion (£5.9billion), after revenues at all its divisions fell.

For the first three months of 2024, Shell produced revenues of £57.9billion, down 16.7 percent. Revenues at its gas, upstream or exploration business, its petrol stations, lubricants and low carbon energy solutions, chemicals and renewables businesses all fell.

Lower gas prices contributed to a 15.9 percent drop…