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SHELL BOOSTS DIVIDEND AFTER $28 BILLION PROFIT FOR 2023



At Shell, there has been an annual profit of $28 billion, surpassing fourth-quarter earnings forecasts, primarily driven by robust liquefied natural gas (LNG) trading. This performance enabled the oil giant to raise its dividend and extend share repurchases.

However, the annual profit experienced a 30% decline compared to the previous year's record. This decrease was attributed to lower profit margins in chemicals and refining, as well as sluggish fuel sales due to subdued global economic activity. The previous year had seen a surge in energy prices following Russia's invasion of Ukraine, which had fueled a blockbuster 2022.

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