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Equinor signs $27 bn gas deal

The 10-year contract was signed with Centrica.

ADNOC Drilling secures $1.15bn contract

The contract for two jack-up rigs begins in the second quarter.

Etihad Q1 profit $187 million

This is a 30% YoY increase over Q1 2025.

Yalla Group Q1 revenue $83m

Net income rose to $36.4 million, a 17% YoY increase.

Qatar Airways annual profit $2bn

This was a record 28% jump in annual net profit.

Shell annual profit drops to US$19.4bn

Post-tax profit slumped to $19.4 billion last year from $42.3 billion in 2022, when prices had soared on key energy producer Russia's invasion on Ukraine. (AFP)
  • Revenue of the British energy major dived almost a fifth percent to $316.6 billion, Shell will nevertheless return $3.5 billion to shareholders
  • "Shell delivered another quarter of strong performance, concluding a year in which we made good progress," said chief executive

London, United Kingdom– Shell said Thursday that profit more than halved in 2023 on lower oil and gas prices, after rocketing to a record the previous year on the Ukraine conflict.

Post-tax profit slumped to $19.4 billion last year from $42.3 billion in 2022, when prices had soared on key energy producer Russia’s invasion of neighboring Ukraine.

“Full year 2023 income… reflected lower realized oil and gas prices, lower volumes, and lower refining margins,” the British energy major said in a results statement.

Revenue dived almost a fifth percent to $316.6 billion.

The group will nevertheless return $3.5 billion to shareholders.

“Shell delivered another quarter of strong performance, concluding a year in which we made good progress,” said chief executive Wael Sawan in the earnings release.

“As we enter 2024 we are continuing to simplify our organization with a focus on delivering more value with less emissions.”