Hard decline from Shell decreased by about 50 percent on an annual basis

Shell’s wife fell hard in the last quarter of 2024

The energy company Shell’s profit in the last quarter of 2024 decreased by about 50 percent on an annual basis.

Shell announced the financial results of the last quarter of 2024.

Accordingly, the company’s profit this period was $ 3.66 billion. This profit fell by about 50 percent compared to the $ 7.3 billion in the same period of 2023.

During this period, Shell’s profit declined due to low prices and profit margins, high search activity damages, duration of risk protection contracts due to liquefied natural gas trade and optimization results.

The company’s profit in 2024 decreased by 16 percent on an annual basis and became $ 23.7 billion. The expectation was that Shell’s annual profit would be $ 24.7 billion.

Shell’s top manager Wael Sawan said in his assessment of the results that the cash flow remains intact despite low gains.

Sawan noted that they have provided more than $ 3 billion decreases since 2022 with the ongoing simplification in the company organization, and announced that they have announced a new review program of $ 3.5 billion.

London