Shell (NYSE:SHEL) +3.2% in Thursday's trading despite missing Q4 earnings and revenue estimates, weighed by weaker oil and gas prices and demand, but the company increased shareholder returns in a sign of confidence in its strategy of refocusing on its most profitable sectors.

Shell on Thursday reported a fourth-quarter profit of $3.66 billion, missing estimates, on lower refining margins and lower liquefied natural gas (LNG) trading, while saying it would buy back shares worth $3.

Shell plc (NYSE:SHEL) shares are trading higher following fourth-quarter results. Revenue of $66.28 billion missed the consensus of $71.82 billion. Total production at Integrated Gas fell 4% quarter over quarter (Q/Q) to 905 kboe/d,

Shell reported a 16% drop in profit for 2024 on Thursday amid weakness in oil and gas prices and in demand, but shares rose after it raised its dividend by 4%. The oil major also announced a $3.5 billion share buyback for the current quarter,

The energy major said profits fell after a year of operating in ‘a lower price environment’, amid shrinking margins from its oil refining business.

British oil giant Shell on Thursday reported a significant drop in annual profit following a year of lower crude prices.

Shell on Thursday reported a 16% drop in 2024 annual profit as a result of weaker oil and gas prices and demand while further increasing shareholder returns in a sign of confidence in its strategy of refocusing on its most profitable sectors.