{"id":41057,"date":"2023-07-27T06:06:36","date_gmt":"2023-07-27T10:06:36","guid":{"rendered":"https:\/\/ifintechworld.com\/markets\/shell-profits-fall-on-lower-energy-prices-expect-more-pain-for-exxon\/"},"modified":"2023-07-27T06:06:37","modified_gmt":"2023-07-27T10:06:37","slug":"shell-profits-fall-on-lower-energy-prices-expect-more-pain-for-exxon","status":"publish","type":"post","link":"https:\/\/ifintechworld.com\/?p=41057","title":{"rendered":"Shell Profits Fall on Lower Energy Prices. Expect More Pain for Exxon."},"content":{"rendered":"
\n
<\/p>\n
<\/p>\n<\/figure><\/div>\n

In more normal times,
\n Shell\u2019s<\/span>
\n second-quarter earnings might have been passable. These are not normal times.<\/p>\n

The oil giant reported adjusted earnings of $5.07 billion in the second quarter. But when that\u2019s compared to the record $11.5 billion profit
\n Shell
\n posted in the same period last year, at the height of the energy crisis, it represents a steep 56% drop.<\/p>\n

\n

It\u2019s even 47% lower than Shell\u2019s (ticker: SHEL) first quarter $9.6 billion profit. It signals that the era of bumper excess profits for the world\u2019s largest oil-and-gas companies is over, and it\u2019s back to something resembling normality.<\/p>\n

Shell blamed lower oil and gas prices and refining margins for the profit slump, as well as lower volumes and lower liquefied natural gas trading.<\/p>\n

With
\n Exxon Mobil
\n (XOM) and
\n Chevron Corporation
\n (CVX) both set to report earnings Friday, it\u2019s a timely reminder to investors to perhaps lower their expectations. However, Chevron\u2019s earnings look set to be better than expectations, after the company released an update Sunday. It still sees a 47% drop in earnings per share.<\/p>\n

The earnings drop didn\u2019t stop Shell announcing a $3 billion share buyback program, though, or raising it\u2019s quarterly dividend by 15% to $0.331 per share.<\/p>\n

A fall in profit was expected, given that prices have tumbled, but Shell\u2019s earnings still came in below expectations. The oil major\u2019s earnings of 75 cents per share also fell below analysts\u2019 estimates of 85 cents, according to FactSet data.<\/p>\n

The London-listed company\u2019s stock fell 1.8% in early trading, and is now up just 1% since the beginning of the year. In contrast, the shares surged 43% in 2022.\u00a0<\/p>\n

Write to Callum Keown at callum.keown@barrons.com<\/p>\n<\/p><\/div>\n<\/div>\n

Read the full article here<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

In more normal times, Shell\u2019s second-quarter earnings might have been passable. These are not normal times. The oil giant reported adjusted earnings of $5.07 billion in the second quarter. But when that\u2019s compared to the record $11.5 billion profit Shell posted in the same period last year, at the height of the energy crisis, it […]<\/p>\n","protected":false},"author":1,"featured_media":41058,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"gallery","meta":{"footnotes":""},"categories":[241],"tags":[83],"class_list":["post-41057","post","type-post","status-publish","format-gallery","has-post-thumbnail","hentry","category-markets","tag-featured","post_format-post-format-gallery"],"yoast_head":"\nShell Profits Fall on Lower Energy Prices. Expect More Pain for Exxon. | iFintechWorld<\/title>\n<meta name=\"description\" content=\"In more normal times, Shell\u2019s second-quarter earnings might have been passable. These are not normal times. The oil giant reported adjusted earnings of\" \/>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/ifintechworld.com\/?p=41057\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Shell Profits Fall on Lower Energy Prices. Expect More Pain for Exxon. | iFintechWorld\" \/>\n<meta property=\"og:description\" content=\"In more normal times, Shell\u2019s second-quarter earnings might have been passable. These are not normal times. The oil giant reported adjusted earnings of\" \/>\n<meta property=\"og:url\" content=\"https:\/\/ifintechworld.com\/?p=41057\" \/>\n<meta property=\"og:site_name\" content=\"iFintechWorld\" \/>\n<meta property=\"article:published_time\" content=\"2023-07-27T10:06:36+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2023-07-27T10:06:37+00:00\" \/>\n<meta property=\"og:image\" content=\"https:\/\/ifintechworld.com\/wp-content\/uploads\/2023\/07\/1690452396_social.jpeg\" \/>\n\t<meta property=\"og:image:width\" content=\"1280\" \/>\n\t<meta property=\"og:image:height\" content=\"640\" \/>\n\t<meta property=\"og:image:type\" content=\"image\/jpeg\" \/>\n<meta name=\"author\" content=\"News Room\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"News Room\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"1 minute\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"Article\",\"@id\":\"https:\/\/ifintechworld.com\/?p=41057#article\",\"isPartOf\":{\"@id\":\"https:\/\/ifintechworld.com\/?p=41057\"},\"author\":{\"name\":\"News Room\",\"@id\":\"https:\/\/ifintechworld.com\/#\/schema\/person\/6224724fd4116361255b179dc5c70b61\"},\"headline\":\"Shell Profits Fall on Lower Energy Prices. Expect More Pain for Exxon.\",\"datePublished\":\"2023-07-27T10:06:36+00:00\",\"dateModified\":\"2023-07-27T10:06:37+00:00\",\"mainEntityOfPage\":{\"@id\":\"https:\/\/ifintechworld.com\/?p=41057\"},\"wordCount\":292,\"commentCount\":0,\"publisher\":{\"@id\":\"https:\/\/ifintechworld.com\/#organization\"},\"keywords\":[\"Featured\"],\"articleSection\":[\"Markets\"],\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"CommentAction\",\"name\":\"Comment\",\"target\":[\"https:\/\/ifintechworld.com\/?p=41057#respond\"]}]},{\"@type\":\"WebPage\",\"@id\":\"https:\/\/ifintechworld.com\/?p=41057\",\"url\":\"https:\/\/ifintechworld.com\/?p=41057\",\"name\":\"Shell Profits Fall on Lower Energy Prices. Expect More Pain for Exxon. | iFintechWorld\",\"isPartOf\":{\"@id\":\"https:\/\/ifintechworld.com\/#website\"},\"datePublished\":\"2023-07-27T10:06:36+00:00\",\"dateModified\":\"2023-07-27T10:06:37+00:00\",\"description\":\"In more normal times, Shell\u2019s second-quarter earnings might have been passable. These are not normal times. The oil giant reported adjusted earnings of\",\"breadcrumb\":{\"@id\":\"https:\/\/ifintechworld.com\/?p=41057#breadcrumb\"},\"inLanguage\":\"en-US\",\"potentialAction\":[{\"@type\":\"ReadAction\",\"target\":[\"https:\/\/ifintechworld.com\/?p=41057\"]}]},{\"@type\":\"BreadcrumbList\",\"@id\":\"https:\/\/ifintechworld.com\/?p=41057#breadcrumb\",\"itemListElement\":[{\"@type\":\"ListItem\",\"position\":1,\"name\":\"Home\",\"item\":\"https:\/\/ifintechworld.com\/\"},{\"@type\":\"ListItem\",\"position\":2,\"name\":\"Shell Profits Fall on Lower Energy Prices. Expect More Pain for Exxon.\"}]},{\"@type\":\"WebSite\",\"@id\":\"https:\/\/ifintechworld.com\/#website\",\"url\":\"https:\/\/ifintechworld.com\/\",\"name\":\"Repay Down\",\"description\":\"Latest Personal Finance News, Tips and Updates\",\"publisher\":{\"@id\":\"https:\/\/ifintechworld.com\/#organization\"},\"potentialAction\":[{\"@type\":\"SearchAction\",\"target\":{\"@type\":\"EntryPoint\",\"urlTemplate\":\"https:\/\/ifintechworld.com\/?s={search_term_string}\"},\"query-input\":\"required name=search_term_string\"}],\"inLanguage\":\"en-US\"},{\"@type\":\"Organization\",\"@id\":\"https:\/\/ifintechworld.com\/#organization\",\"name\":\"Repay Down\",\"url\":\"https:\/\/ifintechworld.com\/\",\"logo\":{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/ifintechworld.com\/#\/schema\/logo\/image\/\",\"url\":\"https:\/\/ifintechworld.com\/wp-content\/uploads\/2023\/04\/rep-logo-dark.png\",\"contentUrl\":\"https:\/\/ifintechworld.com\/wp-content\/uploads\/2023\/04\/rep-logo-dark.png\",\"width\":558,\"height\":90,\"caption\":\"Repay Down\"},\"image\":{\"@id\":\"https:\/\/ifintechworld.com\/#\/schema\/logo\/image\/\"}},{\"@type\":\"Person\",\"@id\":\"https:\/\/ifintechworld.com\/#\/schema\/person\/6224724fd4116361255b179dc5c70b61\",\"name\":\"News Room\",\"image\":{\"@type\":\"ImageObject\",\"inLanguage\":\"en-US\",\"@id\":\"https:\/\/ifintechworld.com\/#\/schema\/person\/image\/\",\"url\":\"https:\/\/ifintechworld.com\/wp-content\/uploads\/2023\/04\/avatar_user_1_1682606986-96x96.png\",\"contentUrl\":\"https:\/\/ifintechworld.com\/wp-content\/uploads\/2023\/04\/avatar_user_1_1682606986-96x96.png\",\"caption\":\"News Room\"},\"sameAs\":[\"https:\/\/ifintechworld.com\"],\"url\":\"https:\/\/ifintechworld.com\/?author=1\"}]}<\/script>\n<!-- \/ Yoast SEO plugin. -->","yoast_head_json":{"title":"Shell Profits Fall on Lower Energy Prices. Expect More Pain for Exxon. | iFintechWorld","description":"In more normal times, Shell\u2019s second-quarter earnings might have been passable. These are not normal times. The oil giant reported adjusted earnings of","robots":{"index":"index","follow":"follow","max-snippet":"max-snippet:-1","max-image-preview":"max-image-preview:large","max-video-preview":"max-video-preview:-1"},"canonical":"https:\/\/ifintechworld.com\/?p=41057","og_locale":"en_US","og_type":"article","og_title":"Shell Profits Fall on Lower Energy Prices. Expect More Pain for Exxon. | iFintechWorld","og_description":"In more normal times, Shell\u2019s second-quarter earnings might have been passable. These are not normal times. The oil giant reported adjusted earnings of","og_url":"https:\/\/ifintechworld.com\/?p=41057","og_site_name":"iFintechWorld","article_published_time":"2023-07-27T10:06:36+00:00","article_modified_time":"2023-07-27T10:06:37+00:00","og_image":[{"width":1280,"height":640,"url":"https:\/\/ifintechworld.com\/wp-content\/uploads\/2023\/07\/1690452396_social.jpeg","type":"image\/jpeg"}],"author":"News Room","twitter_card":"summary_large_image","twitter_misc":{"Written by":"News Room","Est. reading time":"1 minute"},"schema":{"@context":"https:\/\/schema.org","@graph":[{"@type":"Article","@id":"https:\/\/ifintechworld.com\/?p=41057#article","isPartOf":{"@id":"https:\/\/ifintechworld.com\/?p=41057"},"author":{"name":"News Room","@id":"https:\/\/ifintechworld.com\/#\/schema\/person\/6224724fd4116361255b179dc5c70b61"},"headline":"Shell Profits Fall on Lower Energy Prices. Expect More Pain for Exxon.","datePublished":"2023-07-27T10:06:36+00:00","dateModified":"2023-07-27T10:06:37+00:00","mainEntityOfPage":{"@id":"https:\/\/ifintechworld.com\/?p=41057"},"wordCount":292,"commentCount":0,"publisher":{"@id":"https:\/\/ifintechworld.com\/#organization"},"keywords":["Featured"],"articleSection":["Markets"],"inLanguage":"en-US","potentialAction":[{"@type":"CommentAction","name":"Comment","target":["https:\/\/ifintechworld.com\/?p=41057#respond"]}]},{"@type":"WebPage","@id":"https:\/\/ifintechworld.com\/?p=41057","url":"https:\/\/ifintechworld.com\/?p=41057","name":"Shell Profits Fall on Lower Energy Prices. Expect More Pain for Exxon. | iFintechWorld","isPartOf":{"@id":"https:\/\/ifintechworld.com\/#website"},"datePublished":"2023-07-27T10:06:36+00:00","dateModified":"2023-07-27T10:06:37+00:00","description":"In more normal times, Shell\u2019s second-quarter earnings might have been passable. These are not normal times. The oil giant reported adjusted earnings of","breadcrumb":{"@id":"https:\/\/ifintechworld.com\/?p=41057#breadcrumb"},"inLanguage":"en-US","potentialAction":[{"@type":"ReadAction","target":["https:\/\/ifintechworld.com\/?p=41057"]}]},{"@type":"BreadcrumbList","@id":"https:\/\/ifintechworld.com\/?p=41057#breadcrumb","itemListElement":[{"@type":"ListItem","position":1,"name":"Home","item":"https:\/\/ifintechworld.com\/"},{"@type":"ListItem","position":2,"name":"Shell Profits Fall on Lower Energy Prices. Expect More Pain for Exxon."}]},{"@type":"WebSite","@id":"https:\/\/ifintechworld.com\/#website","url":"https:\/\/ifintechworld.com\/","name":"Repay Down","description":"Latest Personal Finance News, Tips and Updates","publisher":{"@id":"https:\/\/ifintechworld.com\/#organization"},"potentialAction":[{"@type":"SearchAction","target":{"@type":"EntryPoint","urlTemplate":"https:\/\/ifintechworld.com\/?s={search_term_string}"},"query-input":"required name=search_term_string"}],"inLanguage":"en-US"},{"@type":"Organization","@id":"https:\/\/ifintechworld.com\/#organization","name":"Repay Down","url":"https:\/\/ifintechworld.com\/","logo":{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/ifintechworld.com\/#\/schema\/logo\/image\/","url":"https:\/\/ifintechworld.com\/wp-content\/uploads\/2023\/04\/rep-logo-dark.png","contentUrl":"https:\/\/ifintechworld.com\/wp-content\/uploads\/2023\/04\/rep-logo-dark.png","width":558,"height":90,"caption":"Repay Down"},"image":{"@id":"https:\/\/ifintechworld.com\/#\/schema\/logo\/image\/"}},{"@type":"Person","@id":"https:\/\/ifintechworld.com\/#\/schema\/person\/6224724fd4116361255b179dc5c70b61","name":"News Room","image":{"@type":"ImageObject","inLanguage":"en-US","@id":"https:\/\/ifintechworld.com\/#\/schema\/person\/image\/","url":"https:\/\/ifintechworld.com\/wp-content\/uploads\/2023\/04\/avatar_user_1_1682606986-96x96.png","contentUrl":"https:\/\/ifintechworld.com\/wp-content\/uploads\/2023\/04\/avatar_user_1_1682606986-96x96.png","caption":"News Room"},"sameAs":["https:\/\/ifintechworld.com"],"url":"https:\/\/ifintechworld.com\/?author=1"}]}},"amp_enabled":true,"_links":{"self":[{"href":"https:\/\/ifintechworld.com\/index.php?rest_route=\/wp\/v2\/posts\/41057","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/ifintechworld.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/ifintechworld.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/ifintechworld.com\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/ifintechworld.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=41057"}],"version-history":[{"count":1,"href":"https:\/\/ifintechworld.com\/index.php?rest_route=\/wp\/v2\/posts\/41057\/revisions"}],"predecessor-version":[{"id":41059,"href":"https:\/\/ifintechworld.com\/index.php?rest_route=\/wp\/v2\/posts\/41057\/revisions\/41059"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/ifintechworld.com\/index.php?rest_route=\/wp\/v2\/media\/41058"}],"wp:attachment":[{"href":"https:\/\/ifintechworld.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=41057"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/ifintechworld.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=41057"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/ifintechworld.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=41057"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}