(News Bulletin 247) – Shell on Thursday reported “solid” results for the fourth quarter, a performance which was greeted without much enthusiasm by the markets after the stock’s strong rise in recent weeks.

- Advertisement -

The Anglo-Dutch oil giant unveiled this morning an adjusted result of 9.8 billion dollars for the last three months of the year 2022, against 9.5 billion a year earlier.

This result is well above the expectations of analysts, who expected a profit of around eight billion dollars.

- Advertisement -

The profit of its integrated gas branch represented nearly six billion dollars, while that of the upstream (exploration & production) reached nearly 3.1 billion.

Quoted in a press release, Wael Sawan, the new managing director, considered that the solidity of these performances testified to the robustness of the ‘differentiated’ portfolio of the company in an economic environment still considered uncertain.

Shell also announced a 15% increase in its quarterly dividend, as well as the launch of a new four billion dollar share buyback program.

Following this publication, the Shell title lost around 0.6% on Thursday on the London Stock Exchange, a performance lower than that of the FTSE 100 index (+0.3%) and that of the European index of the sector. (-0.2%).

The action has gained more than 9% since the beginning of the year.

Copyright (c) 2023 News Bulletin 247. All rights reserved.