• Foreign Affairs
  • Money Matters
  • Domestic Affairs
  • IT, Innovation and Startups
 

Talk Finance

£$$€№₮IAL €¢¤₦¤MI¢ №€₩$
  • Foreign Affairs
  • Money Matters
  • Domestic Affairs
  • IT, Innovation and Startups

Talk Finance

  • Foreign Affairs
  • Money Matters
  • Domestic Affairs
  • IT, Innovation and Startups

In Money Matters

High prices lead to record profits for oil and gas company Shell

28th July 2022 David Stevenson DMCA.com Protection Status

High prices lead to record profits for oil and gas company Shell Pin It

Due to the high prices for oil and gas, Shell made a record profit in the second quarter. At the bottom of the line, the profit over the past three months came to $ 18 billion, also thanks to the rollback of previous depreciation.

The company will buy back its own shares for $ 6 billion. In the first half of this year, the company already bought in its own shares for $ 8.5 billion. The purchase of own shares supports the stock market price.

The company reverses previous depreciation on assets because it assumes that prices will remain high for an extended period of time. That brings a windfall of $ 4.3 billion for this quarter.

The company benefits from the persistently high prices for oil and gas. Among other things, the refining of oil generates more money, about 1 billion dollars more than in the first three months of this year.

Last quarter, Shell had to write off about 4 billion dollars due to the departure from Russia. Despite this, the company still made a profit of 7.1 billion dollars.

The high profits of oil and gas companies in the UK, where Shell has been officially based since the beginning of this year, have led to an additional profit tax. The money raised by the government is used to meet people who are struggling due to increased prices.

Share

No Comments

Leave a Comment

This site uses Akismet to reduce spam. Learn how your comment data is processed.

Previous Post

The European Commission opens…

In Foreign Affairs

The European Commission opens four more cases against the UK

View Post

Next Post

The Federal Reserve raises key…

In Money Matters

The Federal Reserve raises key rate, worries about recession aren't totally unfounded

View Post

In Money Matters

Major grocery chain supports a ban on plastic packaging of fruits and vegs

View Post

In Domestic Affairs

H1N2 swine flu identified in North Yorkshire, no reasons for quarantine measures yet in sight

View Post

In Money Matters

The global dairy market grows exponentially: the World Dairy Map

View Post

In Money Matters

MPs warn against swift adoption of digital pounds in retail

View Post

Newsletter

Latest News

View

James Cleverly will sign a new treaty in Rwanda today: its implementation is questionable

5th December 2023

View

Physical and ‘digital’ gold spiked on weaker dollar expectations

4th December 2023

View

Wording games at COP28: “scaling down” vs “phasing out”

4th December 2023

View

MPs warn against swift adoption of digital pounds in retail

3rd December 2023

Allow us to introduce ourselves

Talk-Finance.co.uk, the analytic media. We are focused on the fresh business, M&A and financial data. We pay attention to the interesting new projects and startups while not letting the whole picture to let unnoticed.

  • Investing.com

Sign Up for Our Newsletter

Our friendly crew

  • Chris Kimble, the managing Editor
  • Matthew Weller, webmaster&technical stuff
  • Charles Sizemore, author
  • David Stevenson, author
  • Helen Rush, author

Contact us by [email protected]

© 2019-2023 Talk Finance - All Rights Reserved. [email protected] DMCA.com Protection Status