Shell reports $6B 3Q profits, up 12% from forecasts, driven by strong LNG sales.

Shell reported third-quarter profits of $6 billion, exceeding forecasts by 12%. The strong performance was driven by robust liquefied natural gas (LNG) sales, which helped mitigate lower revenues from oil refining and trading. Global refining margins declined due to an economic slowdown and the emergence of new refineries in Asia and Africa, while oil prices fell by 17% during the quarter.

October 31, 2024
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