SHEL Stock Recent News

Shell PLC (LSE:SHEL, NYSE:SHEL) and INEOS are among 19 companies to have been awarded new licences to drill for oil and gas in the North Sea A new wave of 31 North Sea licences was awarded on Friday, marking the third and final set offered under the UK's 33rd offshore round. These covered 88 blocks across the southern North Sea, central North Sea and east Irish Sea.

Shell is not currently working on plans to shift its listing from London to New York, but is instead seeking to boost its stock price by buying more of its shares back from shareholders, company CEO Wael Sawan said in a call with investors Tuesday.

Shell PLC (LSE:SHEL, NYSE:SHEL)'s first quarter trading update faces backlash from activist investors and environmentalists over the oil major's carbon emissions. Shell reported an adjusted US$7.7 billion (£6.2 billion) profit for the first three months of the year on Thursday, driven by oil and gas sales.

Chief Executive Officer Wael Sawan is working to close the valuation gap between his company and American rivals Exxon and Chevron.

Shell maintained the pace of share buybacks as first-quarter profit dropped less than expected. The energy producer has made dividends and buybacks a priority as it seeks to close the valuation gap with its US peers.

Shell's first-quarter adjusted earnings fell by less than expected, buoyed by strong margins from crude and oil trading, while the energy giant kicked off a $3.5 billion share buyback program as it hurries to close the valuation gap between it and its U.S. rivals.

Shell plc, the British multinational oil and gas company, just released its quarterly earnings today for the Q1 of FY24. The Q1 adjusted earnings were of $7.7 billion, reflecting a strong operational performance across the business.

Shell PLC (LSE:SHEL, NYSE:SHEL) unveiled a new $3.5 billion share buyback as it reported higher first-quarter profits than expected.  Adjusted earnings from the oil supermajor came in at $7.7 billion for the first three months of 2024, which was down 10% year over year but up 6% from the final quarter of 2023 and better than the $6.25 billion average analyst forecast.

Shell on Thursday reported first-quarter adjusted earnings of $7.7 billion, sharply beating expectations, on the back of strong oil trading and higher refining margins.

Shell decided to exit China's power generation, trading and marketing businesses effective from the end of 2023, the company said on Wednesday.