Shell’s Profits Decline In 4Q24

Shell, one of the world’s largest oil and gas companies, reported lower adjusted earnings in the fourth quarter of 2024 than analysts had predicted, according to the company’s press release.

Shell’s data shows that adjusted earnings for the last three months of 2024 amounted to $3.7 bn, down from approximately $6 bn in the previous quarter. Analysts had forecasted $4.1 bn.

The company attributed the profit decline to optimisation efforts, lower profitability, and an increase in decommissioned wells.

Shell also announced plans for a $3.5 bn share buyback, which it intends to complete before the next quarterly earnings release.

As of 2018, Shell was the world’s largest oil and gas company. Its headquarters are in London, United Kingdom.

Kursiv Uzbekistan previously reported that Shell also announced a share buyback in May last year.