
Bitcoin has hit $28,000 in almost 9 months following the bank crisis sparking weekend protests
March 21, 2023: Bitcoin has increased past the $28,000 level after the weekend as investors rediscovered its charm as an alternative …
July 8, 2022: -On Thursday, Shell said it would reverse up to $4.5 billion in writedowns on oil and gas assets after it increased its energy prices outlook after Russia invaded Ukraine.
In an update before second-quarter results on July 28, Shell said its refining margins almost tripled; it is boosting by recovering global demand from the pandemic, a lack of refining capacity, and lower fuel exports from Russia.
Shell added that the earnings from oil and refined products that trade were expected to be strong in the quarter but less than the first quarter of 2022.
Shell’s indicative refining margin increased in the second quarter to $28.04 for each barrel from $10.23 a barrel in the initial quarter and $4.17 for a year.
Oil and gas prices increased in the quarter, with benchmark Brent crude averaging nearly $114 a barrel.
“In the second quarter of 2022, Shell has revised its mid and long-term oil and gas commodity prices reflecting the present macroeconomic environment and updated energy market demand and supply fundamentals,” it added.
Shell increased it is assuming the price for Brent to $80 a barrel in 2023, up from $60 in its 2021 annual report.
For 2024 and 2025, the Brent price surged to $70 a barrel compared with $60. The long-term price was $65, which compared with $63.
Shell said it finished its $8.5 billion share buyback program during the second quarter.
The company said it expects to increase returns to shareholders in the form of dividends and share buybacks in the next “in excess” of its current target of 30% of cash from processes.
Shell’s oil and gas production is expected to be up to 2.93 million barrels of oil equivalent for each day in the quarter, its lesser one in at least seven years, because of the high field maintenance.
Shell, the world’s biggest trader of liquefied natural gas, said its quarterly LNG production was expected to be 7.4 to 8 million tonnes.
The figure says the removal of LNG volumes from the Sakhalin-2 plant in eastern Russia, where Shell left.
In the previous week, Shell’s bigger rival Exxon Mobil signaled that fuel and crude sales skyrocketing margins could yield a record quarterly profit.
We provide the insights on leaders who are responsible for taking their organization to new heights, all the while bringing together a group of talented individuals.
March 21, 2023: Bitcoin has increased past the $28,000 level after the weekend as investors rediscovered its charm as an alternative …
March 21, 2023: On Monday, Amazon will remove 9,000 more workers in the coming weeks, CEO Andy Jassy stated in a memo …
March 21, 2023: On Monday, Brent oil prices logged failures, dropping below $72 per barrel in intraday trade between turmoil in the banking …
March 20, 2023: On Friday, Cryptocurrencies resumed their march, rising above $26,000 for the second …
March 20, 2023: On Friday, Chinese tech firm Baidu announced it can now operate a robot axis in a part of Beijing from China …
The phrase refers to a rapidly expanding sector that benefits consumers and companies in various ways. Fintech offers a plethora of uses, ranging …