Tag: $Shell

Shell on Thursday reported $6.2 billion profit for the third quarter, roughly in line with estimates.

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.

Oil-and-gas giant Shell SHEL +0.40% warned investors that profits fell in the second quarter, following rival Exxon’s statement earlier this week.

Shell will ramp up its dividend and share buybacks while keeping oil output steady into 2030, it said on Wednesday, as CEO Wael Sawan moved to regain investor confidence that wavered over its energy transition plan.

Britain’s advertising regulator has banned an ad campaign promoting the green initiatives of Shell, saying the marketing of the oil giant’s lower emissions energy products was “likely to mislead” consumers.

British oil giant Shell’s annual general meeting Tuesday looks set to be an acrimonious one, with climate-focused investors seeking to ramp up pressure on the energy major after an extraordinary run of record profits.