Shell posted its highest quarterly earnings on record, as the company was buoyed by high oil and gas prices despite taking a $3.9bn accounting charge on its planned exit from Russia.
The results “give us the confidence to plan future shareholder distributions and disciplined investments that will accelerate our strategy”, CEO Ben van Beurden said in a statement. Distributions to investors in the second half could be more than 30% of cash flow from operations, the company said. Shell’s first-quarter adjusted net income was $9.13bn, up from $3.23bn a year earlier. That figure excludes the large writedown stemming from the company’s planned exit from assets in Russia, including the liquefied natural gas project Sakhalin-2.
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Shell posts record quarterly profit, lifted by energy price surgeShell on Thursday reported a record first-quarter profit of $9.13 bln, boosted by higher oil and gas prices, stellar refining profits and the strong performance of its trading division.
Source: SowetanLIVE - 🏆 13. / 63 Read more »
Shell posts record quarterly profit, lifted by energy price surgeShell on Thursday reported a record first-quarter profit of $9.13 bln, boosted by higher oil and gas prices, stellar refining profits and the strong performance of its trading division.
Source: SowetanLIVE - 🏆 13. / 63 Read more »