- Shell Plc SHEL recorded a bumper profit of around $40 billion in 2022, thanks to increasing gas prices as Russia's invasion of Ukraine led countries to wean themselves Russian fuel imports.
- The majority of profits came from Shell's gas operations.
- Shell chief executive Wael Sawan said: "Our results in Q4 and across the full year demonstrate the strength of Shell's differentiated portfolio and our capacity to deliver vital energy to our customers in a volatile world."
- "We believe Shell is well positioned to be the trusted partner through the energy transition."
- Related: Shell To Pay $2B As Part Of Windfall Tax In European Union In Q4.
- Q4 adjusted earnings increased 4% Y/Y to $9.8 billion. The gains were driven by higher oil and gas prices, robust refining margins, and a strong performance from Shell's trading business.
- Dividend: Shell increased its dividend per share for the fourth quarter by 15% to $0.2875 and announced $4 billion in share buybacks.
- Outlook: Shell expects cash capital expenditure within $23 - 27 billion for 2023.
- Integrated Gas production is expected to be approximately 910 - 970 thousand boe/d. LNG liquefaction volumes are expected to be approximately 6.6 - 7.2 million tonnes. Upstream production is expected to be approximately 1,750 - 1,950 thousand boe/d.
- Price Action: SHEL shares are up 2.93% at $60.03 during the premarket session on the last check Thursday.
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SHELShell PLC
$65.26-2.07%
Edge Rankings
Momentum
38.82
Growth
26.16
Quality
-
Value
89.49
Price Trend
Short
Medium
Long
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