Saturday, December 9, 2023
  • Login
GoTradingAsia
  • Awards
  • Forex
  • Crypto
  • Stocks
  • Education
  • Broker Directory
  • Contact us
No Result
View All Result
GoTradingAsia
  • Awards
  • Forex
  • Crypto
  • Stocks
  • Education
  • Broker Directory
  • Contact us
No Result
View All Result
GoTradingAsia
No Result
View All Result

Shell Reports Profit Despite Oil Price Hike

D. Atika by D. Atika
1 year ago
in Hot News

Britain’s oil giant Shell reported on the 28th that it posted a net profit of $11.5 billion  in the second quarter.

As oil demand soared and oil prices soared due to the Ukraine war, Shell made the largest quarterly profit despite a one-off loss from the withdrawal of its Russian business.

The U.S. oil company’s accounting method, which does not adjust Russian losses and raw material prices, has a net profit of $16.7 billion, up $5.2 billion.

It recorded a record net profit of $9.1 billion in the previous first quarter, surpassing $20 billion in the first half of last year alone. This means Shell earned more than $100 million in net profit every day during the first half of this year.

RelatedArticle

Confirmed, AI Didn’t Reduce Human Jobs Field

Elon Musk Changed Twitter Name to X

Google Creates News Writing AI

OPEC’s Influence on Energy Price is Declining

International oil prices have risen 140 percent in the past 12 months on a Brent crude basis, with the second quarter average reaching 114 dollars a barrel, especially because of the Ukrainian war.

Shell’s overall net profit could easily exceed $30 billion in the first quarter, exceeding $40 billion.

Two years ago, in 2020, when COVID-19 broke out, Shell took the first cut in 80 years of its history, recording a deficit of $4.3 billion, and the situation improved to a hundred and eighty degrees due to a global economic rebound and soaring international oil prices.

Shell plans to buy back $6 billion in treasury stocks with such huge profits, which has been criticized for attributing profits entirely to the company and shareholders’ benefits and for having no consideration for consumers suffering from soaring oil prices. In the first half alone, this buyback was worth $8.5 billion.

Following Shell, oil refiners such as Total, BP, Exxon Mobil and Sevron are expected to announce record quarterly profits over the course of this week and early next week.

D. Atika

D. Atika

Related Posts

Confirmed, AI Didn’t Reduce Human Jobs Field

by D. Atika
November 16, 2023

It has been confirmed that "artificial intelligence (AI) takes away people's jobs" is not yet true. AI-related jobs around the...

Read more

Elon Musk Changed Twitter Name to X

by D. Atika
July 24, 2023

Elon Musk Has Declared A Complete Transformation Of Twitter. The plan is to abandon the blue bird that has long...

Read more

Google Creates News Writing AI

by D. Atika
July 21, 2023

It is known that Google is experimenting with artificial intelligence (AI) tools that can write news articles. Citing the remarks...

Read more

OPEC’s Influence on Energy Price is Declining

by D. Atika
July 9, 2023

The OPEC's (Organization of the Petroleum Exporting Countries) influence, the resource cartel of oil exporters, is declining. The Wall Street...

Read more
Load More
Next Post

Apple Exceeds Wall Street's Expectations in Q2

Trending Issues

  • Cristiano Ronaldo makes Coca-Cola losing millions businesses

    Cristiano Ronaldo and His 6 Successful Businesses

    0 shares
    Share 0 Tweet 0
  • 5 K-Dramas to Watch for Some Money Lessons

    0 shares
    Share 0 Tweet 0
  • Forex Trading in Malaysia: How to Do It Legally

    0 shares
    Share 0 Tweet 0
  • Jack Ma Ventures into Ready-Made Meals with “Ma’s Kitchen”

    0 shares
    Share 0 Tweet 0
  • Asian Stocks Decline Amid Tech Concerns and Earnings Reports

    0 shares
    Share 0 Tweet 0

Get the latest market news and trading tips to your inbox daily, subscribe now !

Topic

  • Asia News
  • Asia Trade
  • Bonus+Promotions
  • Broker News
  • Business News
  • Cryptocurrency
  • Currency Analysis
  • Finance News
  • Forex & Market
  • Forex Tips
  • Hot News
  • Investment Tips
  • Learn to Trade
  • Market Analysis
  • Politics Issue
  • Reviews
  • Social Media
  • Stock Analysis
  • Stock Market
  • Stock Trading Tips
  • Technical Analysis
  • Tips
  • trading strategy
Go Trading Asia

Go Trading Asia covers the latest in Business and Economic News and Market Analysis, with the aim of Providing Readers with the knowledge and tools to make better informed financial decisions.

  • Contact us
  • Privacy Policy
  • Disclaimer

© 2021 Go Trading Asia.

No Result
View All Result
  • Awards
  • Forex
  • Crypto
  • Stocks
  • Education
  • Broker Directory
  • Contact us

© 2021 Go Trading Asia.

Welcome Back!

Login to your account below

Forgotten Password?

Create New Account!

Fill the forms below to register

All fields are required. Log In

Retrieve your password

Please enter your username or email address to reset your password.

Log In