Energy major committed to another $3.5bn in share buybacks after quarterly profits beat market expectations
Shell is delivering on its promise of “consistent” returns, chief executive Wael Sawan said, as the company committed to another $3.5bn of share buybacks after its quarterly profits beat market expectations. Europe’s largest oil and gas company reported adjusted earnings of $6bn for the third quarter, far exceeding average analyst estimates of $5.4bn, as increased gas production offset lower oil prices and weaker refining margins.
” BP on Tuesday signalled it would “review” its expectations for 2025 share buybacks in February, after lower commodity prices pushed quarterly profits to the lowest in almost four years. Its shares closed down 5 per cent on the day. French rival TotalEnergies on Thursday reported third-quarter profits at a three-year low of $4.1bn.
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