Shell’s adjusted Q4 2022 earnings of $9.8bn were mainly driven by the strong performance of its Integrated Gas business and the energy major recorded just under $40bn in annual earnings on the back of soaring prices – its highest full-year results.
The strong performance, which saw the company raise $22.4bn in cash flow from operations in the quarter, and $68bn in the year, led Shell to increasing its dividend per share by 15% in the quarter.
Wael Sawan, CEO, said last year was one when energy security was “front and centre”, and the world mobilised, with FitFor55 in Europe, and introduction of the Inflation Reduction Act in the US.
He said, “This is evidence of moving ambition into action. Despite this progress, the energy system still faces huge challenges, and it continues to need bold decisive actions, and the world requires secure supplies of affordable energy, and needs this energy to be increasingly low carbon.
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