The Shell logo is displayed outside a petrol station in Radstock in Somerset, England, on Feb. 17, 2024. Matt Cardy | Getty Images News | Getty Images British oil giant Shell on Thursday posted stronger-than-expected second-quarter profit despite lower refining margins and weaker liquified natural gas trading. The oil and gas major reported adjusted earnings...
Tag: Oil and Gas
Saudi Aramco begins massive share sale to raise around $12 billion
Logo of Aramco, officially the Saudi Arabian Oil Group, Saudi petroleum and natural gas company, seen on the second day of the 24th World Petroleum Congress at the Big 4 Building at Stampede Park, on September 18, 2023, in Calgary, Canada. Artur Widak | Nurphoto | Getty Images Saudi state oil giant Aramco commenced its...
BP accelerates pace of share buybacks even as full-year profit misses
BP in 2020 set out its ambition to become a net zero company “by 2050 or sooner.” Matt Cardy | Getty Images News | Getty Images Shares of BP rose 5% on Tuesday after the oil giant accelerated the pace of its buybacks and increased its dividend, despite a drop in annual profit. The energy major increased...
Shell beats expectations for full-year 2023 profit
A Shell logo displayed on a sign at a gas station in Nakuru, Kenya. Sopa Images | Lightrocket | Getty Images British oil giant Shell on Thursday beat expectations for full-year profit, announcing a 4% increase to its dividend and a $3.5 billion share buyback program. Shell reported adjusted earnings of $28.25 billion for the full-year 2023,...
Steep drop in profit on lower oil and gas prices
LONDON — Oil major BP on Tuesday reported a nearly 70% year-on-year drop in second-quarter profits on the back of weaker fossil fuel prices, echoing a trend observed across the energy industry. The British energy major posted second-quarter underlying replacement cost profit, used as a proxy for net profit, of $2.6 billion. Analysts had expected BP to...
Oil giant Shell posts sharp drop in profit on weaker commodity prices
General view of the Shell logo. Picture Alliance | Picture Alliance | Getty Images LONDON — British oil giant Shell on Thursday reported a sharp year-on-year drop in second-quarter profit, citing lower fossil fuel prices and refining margins. Shell posted adjusted earnings of $5.1 billion for the three-month period through to the end of June,...