Future Of British Business
Shell Sees Better Earnings From Gas Trading in Third Quarter
- Performance rebounded after seasonal dip from March to June
- Chemicals earnings remained in line with weak second quarter
Shell is refocusing on its core oil and gas business.
Photographer: Christopher Pike/BloombergThis article is for subscribers only.
Shell Plc said its earnings from gas trading rebounded in the third quarter from the dip seen in the prior period.
After bumper profits in 2022 resulting from the severe energy market volatility caused by Russia’s invasion of Ukraine, the performance of oil majors’ trading divisions has shifted back toward historical norms this year. Even so, Europe’s appetite for liquefied natural gas remains high, giving companies like Shell the opportunity to boost margins by diverting cargoes away from other regions.