Shell posts drop in profits with impairment charges and price declines but LNG sales rise to 67 million tonnes
Shell reported a drop in fourth-quarter and annual profits as oil and gas prices declined from last year while the UK major’s LNG sales increased to over 67 million tonnes for the year.
Shell posts record earnings helped by increased annual LNG sales volumes at very high prices
UK major Shell plc posted the company’s highest ever annual profits helped by record natural gas prices as its LNG sales volumes also increased during the quarter and for the full year.
Shell to pull out of Sakhalin-II LNG export venture and currently suspended Nord Stream II gas pipeline
Shell, the UK-based major and leading liquefied natural gas trader, said it intended to exit joint ventures in Russia including its almost one-third stake in the Sakhalin-II LNG export project in the Russian Far East and the suspended Nord Steam II pipeline project connecting Russia with German via the Baltic Sea.
Shell reports decline in LNG sales and in overall earnings in lethargic recovery from 2020 oil price crash
Royal Dutch Shell reported a drop in second-quarter liquefied natural gas sales as overall earnings also declined from the first three months of 2021 amid healthy cash flows. The performance was one of recovery from the massive losses posted in 2020 because of write-downs in assets.
