The Shell logo is displayed outside a petrol station in Radstock in Somerset, England, on Feb. 17, 2024.
British oil giant Shell on Thursday posted a small year-on-year drop in third-quarter profit as a sharp decline in crude prices and lower refining margins were partially offset by higher gas sales.
The energy company reported adjusted earnings of $6 billion for the July-September period, beating analyst expectations of $5.3 billion, according to estimates compiled by LSEG.
Shell posted adjusted earnings of $6.3 billion in the second quarter and $6.2 billion in the third quarter of 2023.
It marks the 12th consecutive quarter that Shell has announced at least $3 billion in buybacks, Sinead Gorman, chief financial officer at Shell, said in a video presentation.
Persons:
Shell, Sinead Gorman, Gorman
Organizations:
LSEG, Shell
Locations:
Radstock, Somerset, England, buybacks, London