CITYA.M.
Shell could start profit slowdown as Labour pushes to expand windfall tax
NICHOLAS EARL: MONDAY 24 OCTOBER 2022 4:13 PM
The historic profit run from oil and gas titans is expected to slow down this week, when Shell unveils its latest results.
Producers are grappling with both inflation and suppressed demand amid growing expectations of a global recession.
Shell has warned ahead of its third quarter update this week that earnings will likely be dented by a sharp hike in refining costs and weaker natural gas trading.
In an update earlier this month, it revealed indicative refining margins dropped to $15 a barrel compared with $28 a barrel in the previous three months of trading.
The energy giant will update investors on its performance this Thursday, the first in a wave of results from oil and gas giants over the coming days.
Rivals BP, Chevron, Exxon Mobil, Equinor and Saudi Aramco will also announce their results over the coming days – offering markets a flurry of data on the latest conditions in the fossil fuel sector. read more
Like this:
Like Loading...
This website and sisters
royaldutchshellplc.com,
shellnazihistory.com,
royaldutchshell.website,
johndonovan.website, and
shellnews.net,
are owned by
John Donovan. There is also a
Wikipedia segment.