Oil giant shell got profit of $40 billion - The Exchange

Oil giant shell got profit of $40 billion- Check out in detail

Shell reported adjusted earnings of $39.9 billion for the full-year 2022.

This comfortably surpasses the $28.4 billion in 2008 which Shell said was the firm’s previous annual record and is more than double the firm’s full-year 2021 profit of $19.29 billion.

Shell announced a $4 billion share buyback program, which is expected to be completed by its first-quarter 2023 results, and a 15% dividend per share increase for the fourth quarter.

British oil giant Shell on Thursday posted its highest-ever annual profit, bolstered by soaring fossil fuel prices and robust demand since Russia’s full-scale invasion of Ukraine last year.

Shell reported adjusted earnings of $39.9 billion for the full-year 2022. This comfortably surpasses the $28.4 billion in 2008

Analysts polled by Refinitiv had expected full-year 2022 net profit to come in at $38.3 billion.

For the final quarter of 2022, Shell reported adjusted earnings of $9.8 billion.

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