From CNBC: 2025-01-30 02:40:32

British oil giant Shell reported a drop in annual profit, with 2024 adjusted earnings at $23.72 billion compared to $28.25 billion in 2023. Q4 2024 earnings were $3.66 billion. Shell announced a 4% dividend increase and a $3.5 billion share buyback program. Oil prices averaged $80 a barrel in 2024. Shell trimmed its LNG production outlook for Q4 2024. CEO Sawan highlighted progress in cost reduction and meeting financial targets. Shell is focusing on profitable oil and gas operations to close valuation gap with U.S. peers. Shell is committed to becoming a net-zero energy business by 2050. Exxon Mobil and Chevron are set to report earnings soon.



Read more at CNBC:: Shell posts weaker-than-expected full-year profit on lower oil prices