EnergyWatch

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.

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