Shell disappoints on the bottom line – launches huge buyback program

Over the quarter the profit landed at USD 4.69 billion while analysts expected USD 5.87 billion in the role – estimates landed somewhere between 5.28 and USD 6.44 billion.

Photo: Deepwater Wind

Thursday morning, oil giant Shell delivered a worse result for the second quarter, despite the fact that the oil price jumped over the past year.

On the other hand, investors are welcoming the fact that the utility is planning to launch a share buyback program valued at USD 25 billion and slated to run from 2018 to 2020. Over the next three months, the company will buy its own shares for USD 2 billion, reports Bloomberg News.

Read the whole article

Get 14 days free access.
No credit card required.

  • Access all locked articles
  • Receive our daily newsletters
  • Access our app
An error has occured. Please try again later.

Get full access for you and your coworkers.

Start a free company trial today

More from EnergyWatch

Vestas confirms spread of stolen data

Data from the OEM's IT systems have been stolen and offered to a third party, informs Vestas, which has "reasons to believe" that the leaked data mainly pertains to internal company matters, says CEO.

Further reading

Related articles

Latest News

See all jobs