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Shell ‘rethinking shareholder return policy’ as oil and gas sector enjoys bumper profits

July 14, 2022

Via: Sky News

The news comes as the oil and gas sector enjoys bumper profits, with the world recovering from the worst of the coronavirus pandemic and prices being fuelled by Russia’s war in Ukraine.

Shell’s chief executive Ben van Beurden told Reuters news agency: “We have to look after our shareholders because I think our shares are very significantly under-priced, and therefore giving back more to shareholders to help that part of the equation is going to be very important.”

He said they are thinking about whether Shell’s shareholder return policy of 20% to 30% of cash from operations “is the right amount given where we are currently”.

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