Shell annual profit drops to $16 bn as oil prices fall
British energy giant Shell on Thursday announced a 17-percent drop in annual net profit owing to weaker oil and gas prices as well as asset write-offs. In late 2024, Shell announced it was cutting hundreds of jobs from its oil and gas exploration division to reduce costs.
Shell Keeps Up Investor Payouts Even as Profit Drops, Debt Rises
Shell Plc maintained the pace of its share buybacks even as profit dropped by more than expected and net-debt rose due to weaker trading amid lower oil prices. Most Read from BloombergManhattan’s Morn
Shell raises shareholder dividend despite 16% profit drop; shares rise
The oil major also announced a $3.5 billion share buyback for the current quarter, making this the 13th consecutive quarter of at least $3 billion of share repurchases
Shell raises dividend despite profits falling last year
Shell has increased its dividend to shareholders despite profits falling last year, after the energy giant was hit by weaker oil prices and lower demand for the fossil fuel.
Shell raises dividend to shareholders as profit falls amid lower oil prices
The energy major said profits fell after a year of operating in ‘a lower price environment’, amid shrinking margins from its oil refining business.
Shell dividend hike drives shares higher despite profit miss
Shell reported a 16% drop in profit for 2024 on Thursday amid weakness in oil and gas prices and in demand, but shares rose after it raised its dividend by 4% and extended its share buyback programme.
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Atlantic Shores Reaffirms Commitment to New Jersey Offshore Wind Despite Shell's Write-Off
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