The oil company Shell achieved record annual profits in 2022 by registering profits of around 42,309 million dollars (38,455 million euros), 110% more than in 2021.
This result is achieved after the last quarter of last year, with the company registering profits higher than those expected by analysts, reaching 19,409 million dollars (9,450 million euros), 54% more than the previous quarter.
In a statement sent to the London Stock Exchange, Shell indicates today that total annual earnings reached 386,201 million dollars (350,832 million euros) compared to 272,567 million dollars (247,749 million euros) the previous year, plus 29.5%.
Despite the fall in the prices of oil and gas, purchased in the third quarter, the company highlights that the situation was offset by higher levels related to the trade of liquefied natural gas sales (another 07% in volume).
Shell also announced a share buyback today, seeking to complete the process before the announcement of first quarter 2023 results.
Thanks to the results, the British oil company reduced its debt (gross amounts) from 52,556 million dollars (47,791 million euros) to 44,838 million dollars (40,784 million euros), 15% less.
In 2022, the company distributed dividends per share that correspond to an amount 16% higher than the figures for 2021, after increasing from $0.8935 per share to $1.0375.
The Chairman of the Board of Directors of Shell, Wael Sawan, considered that the results for the fourth quarter and for the year as a whole “demonstrate the strength of Shell’s differentiated portfolio” as well as “the ability to share vital energy with customers”, in a context of volatility.
Therefore, Sawan vowed to move towards streamlining the company and distributing profits to shareholders.
Source: TSF
