Reported 26 days ago
Shell's third-quarter profits reached $6 billion, surpassing forecasts by 12%, driven primarily by increased liquefied natural gas (LNG) sales that counterbalanced a steep decline in oil refining profits. Despite a challenging global refining environment, the company's results, alongside a decrease in debt and strong cash flow, have bolstered investor confidence, suggesting a resilient business model focused on profitable sectors. Shell plans a $3.5 billion share buyback and has reported improved cash flow and production figures.
Source: YAHOO