Shell Publications are the weakest profit than expected on low oil prices

Pritish Oil Giant Shell reported on Thursday a significant decrease in annual profits, noting the high deletion of exploration, decrease in trading margins and weakest crude prices during the last three months of the year.

Shell recorded modified profits of $ 23.72 billion for 2024 company for the entire year, compared to the annual profit of $ 28.25 billion in the previous year.

Analysts expected that the Shall’s net 2024 profit would reach 24.71 billion dollars, according to the compatibility of LSEG. Separate forecasts from the analysts have been signed by Vara Research, the entire year of $ 24.11 billion.

The head of energy recorded the weakest than the weakest than $ 3.66 billion to the last quarter of 2024.

Shell announced a 4 % increase in a single profit distribution and launched another $ 3.5 billion -shares program, which is expected to be completed during the next three months.

Speaking to “Squawk Box Europe” from CNBC on Thursday, CEO of Shell Will SAN in 2024 described as a “very strong year”, which gave the company a platform “to do everything we said we will do.”

In response to a question about whether the time has come to a company to transfer its list from London to New York to bridge the evaluation gap on its peers in the United States, Swan said that the company “has always retreated the lists of headquarters and the like.”

However, “there is no live discussion at the present time on this in Shell because our number one priority is to ensure that we are chasing the full capabilities of this company,” said Sawan.

The shares of the London listed company were traded by 0.4 % at 9:25 am London time.

The most prominent other profits:

• The cash flow for the entire year of operational activities came at $ 54.68 billion, overcoming analysts’ expectations.
• The net debt at the end of 2024 reached $ 4.7 billion at the beginning of the year at the beginning of the year

The companies of the best oil and gas companies in the world witnessed a decrease in profits from record levels in 2022, when the full invasion of Russia for Ukraine, Brent crude, pushed up to jump to nearly $ 140 a barrel.

Oil prices have been cooled since then in the midst of the faltering global demand, as Brent’s average contracts reached $ 80 a barrel in 2024. This was about $ 2 a barrel less than the previous year, according to US Energy Information Management.

in Trading update On January 8, Shell reduced the forecasts of LNG production (LNG) for the last three months of 2024 and warned that the results of trading in the chemical and oil products department are expected to be “much lower” on a quarterly basis.

The results of Shalas come in full at the time when the company enters the final term for the so -called “The first race“The strategy, which was launched in 2023 and continues until the end of this year, aims to bridge the evaluation gap with our peers by strengthening the profitability of the pioneer.

The CEO of Shell Will SAN gave priority to the operations of the most profitable company for oil and gas as part of this transformation, with spending on areas such as Marine winds and hydrogen And withdrawing from the energy markets in Europe and China.

Like other disciplines of oil and gas, Shell has reduced climate goals and green investments in recent years. However, the company said it is still committed to becoming a clear energy company by 2050.

Analysts led by Pergacheria at RBC Capital Markets said that the results of Shell confirmed “relatively soft” expectations, but showed a strong cash generation.

“Given the expectations have fallen after the trading update, we see these results very quiet,” Borkaria said in a research note.

Maurizio Carolly, Cuellreter Energy Analyst, said that the results of Shell in the fourth quarter painted a “mixed image”.

“While profits fell from expectations, the company’s cash flow has exceeded unanimity estimates,” Caroli said.

“The seasonal factors, along with low prices and margins, have negatively affected profits. However, these concerns are reduced by generating the strong cash flow of Shell.”

American oil giants Exxon Mobil Each of the Chevron is to report the profits on Friday, while BP It is appointed to be shown on February 5 and February 11, respectively.