Shell reports record profit – News

Shell earned a record profit in the fourth quarter of last year, when it earned $9.8 billion (CZK 211.7 billion). This was primarily due to a strong recovery in the sale of liquefied natural gas (LNG).

“We intend to maintain our work commitment while achieving attractive returns for shareholders,” said the company’s new boss, Wael Sawan. He joined the company at the beginning of this year.

The company increased its dividend by 15 percent in the fourth quarter, according to a previously announced plan. This was the fifth increase since the company reduced its dividend by more than 60 percent in 2020 due to the effects of the pandemic.

Another oil giant, ExxonMobil, also announced its earnings on Tuesday. Last year, the American company increased adjusted net profit to a record 59.1 billion dollars (1.3 trillion CZK) from 36.1 billion dollars in the previous year.

Other major energy companies Chevron, BP and TotalEnergies are yet to announce their results. The Reuters agency previously reported that the combined profit of five companies (BP, Chevron, Exxon Mobil, Shell and TotalEnergies) will reach $200 billion (CZK 4.4 trillion), which would be a historical record.

Governments in Great Britain, the USA and some other countries are trying to enforce higher taxation of these companies.

Oil giant ExxonMobil increased its profit to a record 59 billion dollars last year


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