Shell Posts Record Profits For 2022, Helped By Higher Energy Prices - Shell (NYSE:SHEL)

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.