ADVERTISEMENT
Shell's 2023 profit falls 30% to $28 billion, buybacks extendedShell's fourth-quarter adjust earnings, its definition of net profit, reached $7.3 billion, with strong liquefied natural gas (LNG) trading results offsetting weaker refining and oil trading results.
Reuters
Last Updated IST
<div class="paragraphs"><p>Shell logo.</p></div>

Shell logo.

Credit: Reuters Photo

London: Shell on Thursday reported a 2023 profit of $28 billion, down 30 per cent from the previous year's record as oil and gas prices cooled, and increased its dividend by 4 per cent.

ADVERTISEMENT

Shell's fourth-quarter adjust earnings, its definition of net profit, reached $7.3 billion, with strong liquefied natural gas (LNG) trading results offsetting weaker refining and oil trading results.

The quarterly earnings, which exceeded analysts' expectations of a $6 billion profit, compared with record quarterly earning of $9.8 billion a year earlier and $6.2 billion in the third quarter of 2023.

ADVERTISEMENT
(Published 01 February 2024, 15:24 IST)