2023-05-04 08:45:30
Today, May 4, the British oil and gas company Shell presented financial statements for the first quarter. Its profit during this period increased by 6.6%, amounting to $9.7 billion. This result was better than the expectations of analysts surveyed by Refinitiv – $8.6 billion. At the same time, it was slightly lower than the record quarterly profit achieved by Shell in the fourth quarter — $9.8 billion
Shell also told shareholders that the dividend would remain unchanged at $0.2875 per share. The company also confirmed the continuation of the $4 billion share buyback program for the next quarter.
Previously, good results for the quarter, which exceeded analysts’ expectations, were presented by a number of other large oil and gas companies: BP, ExxonMobil, etc. Oil and gas companies continue to benefit from strong energy demand and price fluctuations, although in most cases the first quarter results are inferior to the record results of the last quarter 2022.
Shell shares following the publication of financial statements rose by 2.7%.
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