British energy giant Shell on Thursday announced a 17-percent drop in annual net profit owing to weaker oil and gas prices as well as asset write-offs.
Profit after tax fell to $16.1 billion in 2024, the company said in an earnings statement.
Revenue dropped nearly 11 percent to $289 billion in a year that saw Shell backtrack on some key climate targets.
Chief executive Wael Sawan described last year’s financial performance as “strong” despite “a lower price environment”, causing Shell to increase its dividend by four percent and repurchase $3.5 billion of company shares.
Sawan added that Shell will in March update its “strategy to deliver more value with less emissions”.
Shell last year…
Read More
