Shell made a profit of $6.2 billion in the third quarter
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Shell, which announced that it would lay off 200 employees in 2024, announced a profit of $6.2 billion in the third quarter of this year. High oil prices and refining margins were effective in this increase.
Shell, 6.2 billion in the 3rd quarter of this year dollar While making a profit, it announced a $3.5 billion share buyback for the next three months.
According to the financial results announced by the company for the third quarter, Shell’s profit increased by 22.7 percent in this quarter compared to the previous quarter.
HIGH OIL PRICES WERE EFFECTIVE
The profit, which was 5.07 billion dollars in the 2nd quarter of the year, increased to 6.22 billion dollars in the 3rd quarter. High oil prices and refining margins were effective in this increase.
On the other hand, the company’s third quarter profit decreased by 34.2 percent compared to $9.45 billion in the same period last year.
CEO SAWAN: WE CAUGHT OPPORTUNITIES IN THE VOLATILE COMMODITY MARKET
Shell also announced that it will buy back shares worth $3.5 billion over the next three months.
In his evaluation of the results, Shell Chief Executive Officer (CEO) Wael Sawan stated that the company demonstrated strong operational and financial performance and seized opportunities in volatile commodity markets.
Noting that Shell “created more value with less emissions” while simplifying its portfolio, Sawan stated that they will increase the share repurchase amount in the second half of this year to 6.5 billion dollars with the 3.5 billion dollar share repurchase program planned for the next three months.
HE ANNOUNCED THAT HE WAS GOING TO DISLAY
On the other hand, Shell announced a week ago that it would make layoffs.
The company had announced that it would lay off 200 people in the low carbon solutions department in 2024 and that the evaluation for 130 positions was ongoing.
According to the statement made by Shell, a simplification and performance-oriented transformation will be made in the low carbon solutions unit within the company.
Within the scope of simplification, 200 people in the unit in question will be laid off in 2024. While the restructuring is planned to last until the end of 2024, there will be an evaluation process for 130 positions. (AA)
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