Shell weakest posts all year weaker at the lowest oil prices

British oil giant Shell On Thursday, a significant drop in annual gains reported, citing higher exploration cancellations, lower commercial margins and weaker raw prices during the last three months of the year.

Shell published adjusted profits of $ 23.72 billion for the entire 2024, compared to the annual profits of $ 28.25 billion A year earlier.

Analysts expected the net profit of 2024 from Shell 2024 to reach $ 24.71 billion, according to a consensus compiled by LSE.

The energy commander registered weaker adjusted profits than was anticipated of $ 3.66 billion for the last quarter of 2024.

Shell announced a 4% increase in dividends per share and launched another shares of $ 3.5 billion shares, which is expected to be completed in the next three months.

“Despite the lowest profits in this quarter, cash delivery remained solid and we generated a free cash flow of $ 40 billion during the year, more than 2023, in a lower price environment,” said the CEO Wael Sawan in a statement on Thursday.

“Our continuous approach in simplification helped deliver more than $ 3 billion in structural cost reductions since 2022, fulfilling our goal before planned, while progressing significantly against all our other financial objectives,” he added.

The world’s main oil and gas companies have seen profits Record levels in 2022When the large -scale invasion of Russia of Ukraine led to the international reference Brent raw to jump to Almost $ 140 per barrel.

Oil prices have been cooled since then in the middle hesitant global demandwith the future raw of Brent averaging $ 80 per barrel in 2024. That was around $ 2 per barrel less than the previous year, according to the Energy Information Administration of the United States.

In Commercial update On January 8, Shell cut off his liquefied natural gas production perspective (LNG) for the last three months of 2024 and warned that commercial results were expected for their division of chemical and oil products were “significantly lower” quarterly.

The shares of the company that quotes in London increased around 4.8% in the year in which it will be carried out.

The results of the year of Shell occur when the company enters the final stretch of its call “First sprint“The strategy, which was launched in 2023 and extends until the end of this year, aims to close the assessment gap with US partners. Uu. Increasing the profitability of the major.

The Shell CEO, Wael Sawan High seas wind and hydrogen and withdraw from energy markets in Europe and Porcelain.

As other Oil and gas farms, shell has been diluted Climate objectives and green investments in recent years. The company, however, has said that it is still committed to becoming a zero net energy business by 2050.

American oil giants Exxon Mobil and Chevron Both are scheduled to inform the profits on Friday, while the European partners Total energy and BP They are ready to follow their example on February 5 and February 11, respectively.