In any other industry and at any other time, record profits, a dividend hike, and billions of dollars in share buybacks would be more than enough to keep shareholders happy. But not in oil in 2023, with companies caught between needing to prove their environmental commitments while making most of their money from dirty hydrocarbons — a dilemma that will get worse in the coming years. Shell Plc, Europe’s largest energy company, is a case in point. On Thursday, it reported adjusted net profit last year surged to an-all-time high of nearly $39.9 billion, easily beating the previous record of $28.4 billion in 2008. Wael Sawan, who became chief executive officer in January, went ahead with a previously announced 15% dividend increase, and added a $4 billion buyback.