Reported 1 day ago
Shell Plc has announced a drop in natural gas sales and trading earnings, indicating a bleak end to 2024 for major energy firms. In its latest quarterly update, operating expenses rose while profits from oil trading declined. Shares fell by 1.5% in London after the announcement, reflecting a broader trend of lower earnings among top energy companies. Despite current weaknesses, the outlook for natural gas prices, especially in Europe, remains optimistic due to recent supply disruptions. Analysts suggest Shell's update may lead to downgrades in earnings expectations, but do not believe it will significantly affect shareholder returns.
Source: YAHOO