This is Money
Oil giant Shell returns $5.5bn to shareholders as profits rise after it cashes in on rising gas prices
- Profits at its gas trading division to be ‘significantly higher’ in the last quarter
- It will return remaining $5.5bn proceeds from the sale of its US shale business
- Shell due to report its results on 3 February, days before Ofgem announcement
Royal Dutch Shell expects profits at its gas trading division to be ‘significantly higher’ in the last quarter of 2021 as it cashes in on rising prices.
The oil giant also said it would go ahead with its plan to return $5.5billion to shareholders through share buybacks after the sale of its US shale business.