Shell Posts Sharg Drop Profit in the first quarter from weaker oil prices

British oil giant Shell On Friday, it reported a stronger profit in the first quarter and maintained the rate of its ransom program, even if the profit decreased by more than a quarter compared to the same period last year.

Shell reported a $ 5.58 billion profit in the first three months of the year, beating analysts’ expectations of $ 5.09 billion, consensus reports. A separate forecast analyst provided by the company had await Shell’s profits in the first quarter amounted to $ 4.96 billion.

Shell reported the adjusted profit 7.73 billion dollars For the same period last year-on 28% higher than in the first quarter-and 3.66 billion dollars In the last three months of 2024.

Shell shares were 3.2% higher at 8:55 am in London.

Big Oil’s returns were a problem for investors, in particular, if the profit in the industry continues to fall with Write down the highs in 2022.

The weak demand for demand, providing raw cheese prices and rapidly changing US President Donald Trump’s trade policy has changed in recent months.

For its part, Shell on Friday announced another 3.5 billion dollars of the ransom program, which is supposed to complete over the next three months. The company notes the 14th in a row at least $ 3 billion.

On the contrary, British competitor PP On Tuesday dropped its share of ransom as Profit in the first quarter There were not enough expectations of analysts.

Shell Wael Sawan CEO called profits as “another solid set of results”.

“Our high performance and elastic balance give us confidence to start another 3.5 billion ransom over the next three months, which is in accordance with the strategic direction we have outlined on our capital markets in March,” Volna said.

Shell confirmed its reduced annual investment budget of $ 20 billion to $ 22 billion for 2025.

In March shell had announced Plans to increase the profitability of shareholders and reduce the costs by double pressing the liquidated natural gas (MPG).