Overview
- Shell, which reported results Thursday, posted adjusted earnings of $6.92 billion that topped forecasts near $6.1 billion on higher realized prices and exceptional trading.
- The company cut its quarterly share buyback to $3 billion and raised the dividend 5% to $0.3906 per share, as net debt climbed to about $52.6 billion.
- An Iranian strike shut Shell’s Pearl gas‑to‑liquids site in Qatar in March, and the company says repairs will take roughly a year with lower second‑quarter output expected.
- Shell agreed to acquire Canada’s ARC Resources for about $16.4 billion to boost longer‑term oil and gas supply from the Montney shale.
- Campaign groups renewed calls for tougher windfall taxes as households face higher fuel and energy costs during the war‑driven price spike.