Shell's 2023 Profit Falls 30% to $28 Billion, Buybacks Extended
Reuters02-01
LONDON, Feb 1 (Reuters) - Shell on Thursday reported a 2023 profit of $28 billion, down 30% from the previous year's record as oil and gas prices cooled, and increased its dividend by 4%.
Shell's fourth-quarter adjust earnings, its definition of net profit, reached $7.3 billion, with strong liquefied natural gas $(LNG)$ trading results offsetting weaker refining and oil trading results.
The quarterly earnings, which exceeded analysts' expectations of a $6 billion profit, compared with record quarterly earning of $9.8 billion a year earlier and $6.2 billion in the third quarter of 2023.
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