© Reuters. A view shows a logo of Shell petrol station in South East London, Britain, February 2, 2023. REUTERS/May James
LONDON (Reuters) – Shell (LON:) on Thursday reported a 2023 profit of $28 billion, down 30% from the previous year’s record as oil and gas prices cooled, and increased its dividend by 4%.
Shell’s fourth-quarter adjust earnings, its definition of net profit, reached $7.3 billion, with strong liquefied (LNG) trading results offsetting weaker refining and oil trading results.
The quarterly earnings, which exceeded analysts’ expectations of a $6 billion profit, compared with record quarterly earning of $9.8 billion a year earlier and $6.2 billion in the third quarter of 2023.