A shell logo will be displayed in Austin, Texas on May 3, 2024.
Brand Sland Bell | Getty Image Znow | Getty Image
Thursday, a major British oil shell reported a significant decline in annual profits. This has led to higher exploration, declining trading margins, and declining price in the trading margin over the last three months of the year.
The shell recorded a adjusted profit of $ 23.72 billion in 2024 years compared to the annual profit of the previous year.
According to a consensus compiled by LSEG, analysts anticipated that Shell’s net income for 2024 years would be $ 24.7 billion. Another prediction from the analyst voted by VARA Research is expected to be $ 24.1 billion per year.
The energy major recorded an unexpectedly adjusted revenue of $ 366 billion in the last quarter of 2024.
The shell announced that dividends per share will increase by 4 %, and have launched another $ 3.5 billion stock. This will be completed in the next three months.
Wael Sawan of Shell CEO, who talked to CNBC’s “SQUAWK BOX EUROPE” on Thursday, explained 2024 as a “very strong year.”
Sawan asked if the shell moved to New York to New York and filled the evaluation gap of a US friend, and said that the company was always reviewing the headquarters list.
However, “At the moment, there is no live discussion about this, because our top priority is to confirm that the company’s potential is completely canceled,” says Sawan. Masu.
The stocks listed in London rose almost 3 % on Thursday.
Highlights of other revenue:
The cash flow from sales activities has arrived at $ 546.8 billion, breaking the expected debt of analysts at the end of 2024 was $ 4.7 billion lower than the beginning of the year.
The world’s top petroleum and gas companies have reduced their profits from the 2022 recording level, prompted to jumble international benchmarkbrent crude oil to near one barrel due to a full -fledged invasion of Ukraine in Russia.
According to the United States Energy Information Bureau, petroleum prices have been cooled since the global demand declined, and 2024 blent crude oil futures were $ 80 per barrel.
With the transaction update on January 8, the shell trimmed the prospects for producing liquefied natural gas (LNG) for the last three months of 2024, and the transaction results of the chemical substance and the oil product division were “significantly significant. He warned that it was expected to be low. Basics.
“First Sprint”
The result of the shell’s year is brought when the company enters the ultimate stretch of the so -called “first sprint”. This strategy started in 2023 and will be held until the end of this year, but we aim to enhance the profitability of major to fill the evaluation gap with US friends.
As part of this shift, Wael Sawan, a shell CEO, gives priority to the company’s higher profitability of oil and gas, reducing expenditures in regions such as offshore and hydrogen in Europe and China. I did.
As with other oils and gas major, shells have recently drained climate goals and green investments. However, the company states that it has continued to commit to become an internet zero energy business by 2050.
On Sunday, February 11, 2024, a petroleum storage silo crosses the flooded land of a shell PLC Pernis Refinery in Rotterdam, the Netherlands.
Bloomberg | Bloomberg | Getty Image
Analysts, led by Birajj Borkhataria of RBC Capital Markets, confirmed that SHELL results were “relatively soft”, but it showed a robust cash generation.
“I think these results are almost safe considering that the expectations have been given following the renewal of the transaction,” Borkhataria stated in a survey note.
Apart from that, Maurizio Carulli, a QUILTER CHEVIOT energy analyst, stated that the results of the fourth quarter of the shell were drawn as a “mixed picture.”
“The profits are less than expected, but the company’s cash flow performance has exceeded the consensus estimation,” Karli said.
“The seasonal factors have a negative effect on profits, along with low prices and margins, but these concerns are reduced by the production of the shell’s robust cashflow generation,” he added.
Major oil giant in the United States Exonmobile And Chevron is planning to report revenue on Friday, but the European colleagues are in total, BP Each has been set to follow the lawsuit on February 5 and February 11.
Court judgment
A few hours after the results were announced, the Court in Scottish overturned the British approval for two large -scale North Sea oil and gas fields.
This ruling, which was considered a great victory for environmental organizations, did not take into account the carbon emissions generated by the former British government’s consent of the Rose Bank and Jack Dopes. He said he was illegally recognized. Until the government repaid the decision, “oil and gas could not be extracted from Jackedo or Rose Bank Field.”
“This is an important victory. In other words, it means that Rose Bank cannot be moved forward without considering the huge climate,” said Tesskan, an uplift executive director. Uplift brought the incident alongside the Environmental Campaign Group, GreenPEACE.
Shells and Norway Equors both fought to support the approval of the contested projects, but they welcome their decisions and are pleased that they can continue their work while new consent is required. Was stated.
Shell has been more than £ 800 million since regulatory authorities first approved a small Jackdogas field in 2022 and asked the government for “prompt action” to solve the situation. He said he spent it.
