Skip navigation

Gloucestershire Business News

Better than expected profits for Shell

Europe's biggest oil and gas firm has reported better than expected first quarter profits.

Shell said its main profit measure for the first three months of the year was $7.7bn (£6.14bn) - more than $1bn higher than forecast, but significantly lower than $9.7bn in the same period last year, as reported by Sky.

Shell reported that the performance was due to strong oil trading and higher refining margins.

Meanwhile, the company is under pressure from a group of shareholders with a combined 5% holding to work to stricter climate targets.

The group is calling on Shell to align its medium-term carbon emissions reduction targets with the Paris Climate Agreement, to include emissions from fuels burnt by customers.

The resolution is up for the vote at the company's AGM on May 21 and Shell's board is urging shareholders to vote against it.

The company said it is already making good progress towards achieving climate targets and ambitions.

Related Articles

St James's Place faces exit from FTSE 100 Image

St James's Place faces exit from FTSE 100

The Cirencester-headquartered company is one of Gloucestershire's largest employers.

EXCLUSIVE: Gloucestershire Airport to trim operating hours  Image

EXCLUSIVE: Gloucestershire Airport to trim operating hours

Staffing headaches solved by interim closures this summer.

Gloucestershire firm celebrates 40 years Image

Gloucestershire firm celebrates 40 years

Gloucester-based Quattro Design Architects is celebrating its 40th anniversary throughout 2024.

BT announces delay to the 'Big Switch Off' Image

BT announces delay to the 'Big Switch Off'

BT has announced a year-long extension to the 'Big Switch Off' of analogue lines.

Copyright 2024 Moose Partnership Ltd. All rights reserved. Reproduction of any content is strictly forbidden without prior permission.