Shell launches $3.5 billion buyback after earning $7.7 billion

Shell’s first-quarter adjusted earnings fell by less than expected, buoyed by strong margins from crude and oil trading, while the energy giant kicked off a $3.5 billion share buyback program as it hurries to close the valuation gap between it and its U.S. rivals.

May 2, 2024 - 10:40
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Shell launches $3.5 billion buyback after earning $7.7 billion
Shell’s first-quarter adjusted earnings fell by less than expected, buoyed by strong margins from crude and oil trading, while the energy giant kicked off a $3.5 billion share buyback program as it hurries to close the valuation gap between it and its U.S. rivals.