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Thread: Shell profits double

  1. #1
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    Default Shell profits double

    Left will cry some more while their leaders rake in the cash while acting surprised that their policies are reverse Robinhooding the country's wealth...

    Shell profits double to record $40 billion

    By Michelle Toh and Hanna Ziady, CNN
    February 2, 2023

    Shell made a record profit of almost $40 billion in 2022, more than double what it raked in the previous year after oil and gas prices soared following Russia’s invasion of Ukraine.

    Europe’s largest oil company by revenue reported adjusted full-year earnings of $39.9 billion on Thursday — more than double the $19.3 billion it posted in 2021 — driven by a strong performance in its gas trading business. The company’s stock was up 1.7% in London.

    The company reported $9.8 billion in profit in the fourth quarter. Just over 40% of Shell’s full-year earnings came from its integrated gas business, which includes liquified natural gas trading operations.

    Shell CEO Wael Sawan said the results “demonstrate the strength of Shell’s differentiated portfolio, as well as our capacity to deliver vital energy to our customers in a volatile world.”

    The earnings are the latest in a series of record-setting results by the world’s biggest energy companies, which have enjoyed bumper profits off the back of soaring oil and gas prices.

    ExxonMobil this week posted record full-year earnings of $59.1 billion. Last month, Chevron (CVX) reported a record full-year profit of $36.5 billion.

    That has led to renewed calls for higher taxation. Governments in the European Union and the United Kingdom have already imposed windfall taxes on oil company profits, with the proceeds used to help households struggling with rising energy bills.

    Shell said it expected to pay an additional $2.3 billion in tax related to the EU windfall tax and the UK energy profits levy. The company paid $13 billion in tax globally in 2022.

    Shell (RDSA) also announced another $4 billion share buyback program and confirmed it would lift its dividend per share by 15% for the fourth quarter.

    https://www.cnn.com/2023/02/02/inves...hnk/index.html

  2. #2
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    Biden's Build Back Better plan is working
    Listen to your elders. Not because they are always right but because they have more experiences of being wrong.

    "We make a living by what we get, we make a life by what we give" Sir Winston Churchill

  3. #3
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    Doubling profits while offering 5 cents off per gallon. That’s the kind of stuff that will get a CEO a raise.

  4. #4
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    Refreshing to see somebody can make a few bucks in these troubling times .
    We gave you Corn,you gave us clap,bad trade.

  5. #5
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    Yet duh mass democrat voters still think republicans are owned by big oil.
    Ephesians 2 : 8-9



    Charles Barkley: Nobody doesn't like meat.

  6. #6
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    So, the government thinks that they need to raise the tax on these profits to help the common man out? I'm pretty sure consumers are going to continue to consume, so guess who is going to be paying for the higher taxes (through margin increases)? See how this works?

  7. #7
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    When the gov shuts down your research department by banning exploration and new leases, all of that goes to the bottom line.

    Thats not the only reason but add that to the entire petroleum market being speculative, anytime Dirty Joe says something stupid, prices shoot up.
    A vote is like a rifle: its usefulness depends upon the character of the user.

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  8. #8
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    Quote Originally Posted by Jozie & Me View Post
    anytime "The Big Guy" says something stupid, prices shoot up.
    FIFY

    10% of $40,000,000,000 isn't chicken feed...

  9. #9
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    Sounds like they're breaking even to me.

  10. #10
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    These profit numbers for oil companies always sound high but they are never expressed in terms of ROI.

    One of my brothers was bitching about Big Oil and even suggesting they do things like buy up new technologies to prevent better fuel economy, etc. I told him that they are publicly traded and asked him why doesn't he just buy some of their stock and rake in some of that profit himself. He didn't have a response.

  11. #11
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    Vices are where the money is. Tobacco, alcohol, gambling, drugs, pussy are all still in high demand even in this economy. Most or it is cash money too.

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