Shell (SHEL) is set to boost its dividend rate by 15% while emphasizing on oil and gas production and cutting back on less profitable ventures.
The major integrated oil companies are refocusing their budgets on the core business of oil and gas this year. What it means for the future is unclear.
Shell CEO Wael Sawan said energy giant is boosting oil and gas production to book near-term profits, but it's also building EV charging stations in China.
Climate groups have lashed out at Shell PLC (LSE:SHEL, NYSE:SHEL) after chief executive Wael Sawan unveiled the oil giant would backtrack on plans to cut annual oil production by up to 2% until 2030.

Shell gives a boost to shareholder returns

10:42am, Wednesday, 14'th Jun 2023
Shares of Shell PLC (LON: SHEL) are trading up this morning after the energy giant revealed plans of boosting returns to shareholders. Shell boosts dividend and buybacks Moving forward, the oil and ga

Shell's New Strategy Avoids the Toughest Questions

10:31am, Wednesday, 14'th Jun 2023
The European energy major promises stable oil and gas production this decade, but higher hurdles for investments in lower-carbon alternatives.
Shares of Shell NYSE: SHEL are rallying by as much as 2.6% in the pre-market hours of Wednesday morning as investors and traders pile in to anticipate further price reactions stemming from the company
"We will invest in the models that work – those with the highest returns that play to our strengths," Shell CEO Wael Sawan said in a statement.
Shareholders of energy giant Shell – who have had to contend with dividend yields of less than 4% in recent quarters – are about to be greeted with welcome news.

Shell looks after shareholders but at what cost?

07:39am, Wednesday, 14'th Jun 2023
Shell PLC (LSE:SHEL, NYSE:SHEL)'s plans to boost shareholder returns and cut capex were broadly welcomed by the City but is it doing enough to address climate change? “Is it net zero or adding zeroe

5 Things to Know Before Markets Open

07:30am, Wednesday, 14'th Jun 2023
The Federal Reserve will announce its decision on interest rates and AMD is releasing a new GPU chip in a challenge to Nvidia. Here's what investors need to know today.

Shell Boosts Dividend, Sets Buyback of $5 Billion

06:22am, Wednesday, 14'th Jun 2023
The biggest European oil company is boosting distributions to 30% to 40% of cash flow, compared with current rates of 20% to 30%.
Shell said Wednesday that it will increase shareholder distributions, while outlining plans for $5 billion in buybacks and a reduction in capital spending.

Shell to sell its stake in Pakistan unit

04:46am, Wednesday, 14'th Jun 2023
Shell Pakistan on Wednesday said that parent Shell has notified it of the group's intent to sell its shareholding in the business.

Shell to Lift Dividend, Launch $5 Billion Buyback

03:19am, Wednesday, 14'th Jun 2023
The energy major said it would increase shareholder distributions while outlining plans for buybacks and a reduction in capital spending.
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