Shell reports profit driven by refining margins and oil.

Oil giant Shell reported a better-than-expected first-quarter profit of $7.7bn, driven by higher refining margins and robust oil trading. The company also announced a $3.5bn share buyback for the second quarter. Shell's adjusted earnings for Q1 were $7.7bn, down from $9.65bn in Q1 2023 but higher than analysts' expectations of $6.46bn. The company's share buyback program is expected to be completed by the Q2 2024 results announcement.

May 02, 2024
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