Shell’s bumper earnings echo profits seen across the oil and gas industry, even as many energy majors incur costly write-downs from exiting Russia.
Highlights
- Shell posted adjusted earnings of $9.1 billion for the three months through to the end of March.
- That compared with $3.2 billion over the same period a year earlier and $6.4 billion for fourth quarter of 2021.
- Shell’s results echo bumper profits seen across the oil and gas industry, even as many energy majors incur costly write-downs from exiting Russia.
- Shell confirmed it had taken $3 billion of post-tax charges in the first quarter as a result of its exit from Russia.
- The company also announced plans to increase its dividend by around 4% to $0.25 per share for first quarter of 2022.