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Shell - 1 Wael Sawan - 1 Sawan - 1 Jefferies - 1 Giacomo Romeo - 1 TotalEnergies - 1 Norway's - 1 Ron Bousso - 1
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Shell - 1 Reuters Graphics - 1 Benchmark Brent - 1 Thomson - 1

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☆ Shell's profits tumble 56% to $5 bln as energy prices cool
  + stars: | 2023-07-27 | by ( Ron Bousso Shadia Nasralla | Ron Bousso | Shadia Nasralla | ) www.reuters.com   time to read: +3 min
The earnings, which missed forecasts, follow bumper earnings in 2022 after energy prices surged in the wake of Russia's invasion of Ukraine, but were in line with its second-quarter performance two years ago. In June, Shell announced it would buy back at least $5 billion in shares in the second half of the year. Shell shares were down 1.7% by 0730 GMT, compared with a 1% decline for the broader European energy index (.SXEP). Reuters GraphicsWEAKER QUARTERThe lower results mainly reflected lower liquefied natural gas (LNG) trading results, lower oil and gas prices, lower refining margins, and lower sales volumes, compared with the previous quarter, Shell said. Oil and gas prices soared last year in the wake of Russia's invasion of Ukraine but energy prices have dropped sharply this year as fears of shortages have eased.
Persons: Shell, Wael Sawan, Sawan, Jefferies, Giacomo Romeo, TotalEnergies, Norway's, Ron Bousso, Christina Fincher, Jason Neely Organizations: Shell, Reuters Graphics, Benchmark Brent, Thomson Locations: Ukraine
☆ Shell posts $10 bln profit as trading offsets lower energy prices
  + stars: | 2023-05-04 | by ( Ron Bousso Shadia Nasralla | Ron Bousso | Shadia Nasralla | ) www.reuters.com   time to read: +3 min
Shell shares were up 0.8% by 1242 GMT. "In Q1, Shell delivered strong results and robust operational performance, against a backdrop of ongoing volatility," Chief Executive Officer Wael Sawan said in a statement. Sawan, who took the helm in January, told reporters he was focused on narrowing a wide gap in the share performance of Shell and its European peers against their U.S. rivals. Lower natural gas prices in the quarter weighed on Shell's giant integrated gas business, with profits slumping 18% to $4.9 billion. Shell showed "strong operational performance in the quarter across all divisions with oil and gas trading playing a key role," Jefferies analyst Giacomo Romeo said in a note.
☆ Shell posts $10 billion profit as trading offset lower energy prices
  + stars: | 2023-05-04 | by ( Ron Bousso Shadia Nasralla | Ron Bousso | Shadia Nasralla | ) www.reuters.com   time to read: +3 min
REUTERS/Dado Ruvic/IllustrationSummarySummary Companies Shell maintains dividend unchangedAnnounces $4 bln in share buybacksLONDON, May 4 (Reuters) - Shell (SHEL.L) on Thursday posted first-quarter net profit of $9.65 billion, topping analysts' forecasts, as strong earnings from fuel trading and higher liquefied natural gas (LNG) sales offset cooling energy prices. Lower natural gas prices in the quarter weighed on Shell's giant integrated gas business, with profits slumping 18% to $4.9 billion. Shell shares were up 2% by 0830 GMT. Reuters GraphicsPROFITS BEATShell reported adjusted earnings of $9.65 billion in the first quarter, exceeding a company-provided analyst forecast of $8 billion. That compared with earnings of $9.1 billion a year earlier and $9.8 billion in the fourth quarter of 2022, when Shell reported a record annual profit of $40 billion.
☆ Reaction: OPEC output cuts to roil markets
  + stars: | 2023-04-02 | by ( ) www.reuters.com   time to read: +3 min
The OPEC move and Russia's extension through year-end of cuts was a coordinated effort that signaled the OPEC+ remains in charge of global markets. ANDY LIPOW, PRESIDENT, LIPOW OIL ASSOCIATES"It’s very significant that the majority of the production cuts are coming from the core OPEC members. "OPEC is clearly concerned about lower oil prices impacting on their individual government budgets. The 1 million barrel per day cut is likely to be from production quotas and result in an actual production cut of somewhat less. This is the biggest surprise since January 2021" when OPEC+ disclosed a gradual increase in output follow COVID cuts.
☆ What Wall Street is expecting from Shell, TotalEnergies and BP earnings
  + stars: | 2023-02-01 | by ( Ganesh Rao | ) www.cnbc.com   time to read: +4 min
On Thursday, Europe's largest energy company Shell is due to report earnings. Britain's BP and France's TotalEnergies are also due to report the following week. It comes after Exxon , the biggest oil & gas company in North America, posted earnings and revenue that beat analyst expectations Tuesday. Here's what analysts are expecting from Shell, TotalEnergies and BP: Shell, Feb. 2 JP Morgan — Overweight, price target £29.50 ($36.29) (25% upside) Analysts led by Christyan F Malek said improved trading at Shell's integrated gas unit was a "key" data point for investors in the fourth quarter. Morningstar – price target £5.5 (13.6% upside) Analyst Allen Good said BP had weathered a big hit to earnings due to the write-off of its Russian investments in state-owned Rosfnet.
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