Shell’s remarkable $6.2 billion profit! Locate the nearest Shell station now amidst soaring oil prices. Fuel your curiosity today!
Shell, a major oil and gas company, has announced record profits driven by the rebounding crude oil market.
According to the energy giant, earnings reached $6.2 billion (£5.1 billion), marking a substantial improvement compared to the previous period.
However, profits declined from $9.4 billion in 2021, primarily due to the impact of Russia’s invasion of Ukraine, leading to increased fuel prices.
While oil prices are currently slightly lower, they have been on the rise in recent times. This is largely a result of production cuts by OPEC+ member countries, aimed at stabilizing the market.
Earlier this week, the bank noted that the price per barrel of crude oil could surge to $150, up from the current $85, due to the Middle East conflict.
Furthermore, Shell reported a 23 percent increase in profit over the last three months compared to the previous quarter, attributing it to higher oil prices, increased oil and gas extraction, and improved earnings from refining and gas trading.
Despite its commitment to cease trading gas from Russia, Shell continues to do so. Oil prices experienced fluctuations last year, resulting in reduced earnings for energy companies. However, crude oil prices have started to rebound since production cuts in the summer, driven by concerns about global demand.
This decision to cut production was made by OPEC+ members, led by Saudi Arabia and Russia, in response to concerns about diminishing global demand. Moscow also blamed Western “interference with market dynamics” after imposing restrictions on Russian oil following the Ukrainian invasion, causing petrol prices to rise, affecting drivers on the highways.
Shell has pledged to return $3.5 billion to shareholders through the stock market. The company is set to pay out a total of $23 billion in cash dividends to shareholders this year.
Critics have raised concerns about these payouts, with Jonathan Noronha-Gant from the Global Witness climate campaign group emphasizing that Shell’s shareholders are among the biggest beneficiaries of the war in Ukraine and global disruptions.
Despite the market turmoil in the fossil fuel industry, Shell has continued to report significant profits. However, it has been criticized for increasing its oil and gas output instead of investing the additional funds in clean energy options.
Shell’s CEO, Wael Sawan, who assumed office in January, has shifted the company’s strategy to focus primarily on oil and gas. He has also announced plans to reduce the workforce in Shell’s low carbon solutions segment by 15%. However, further details about this decision have not been provided.
How to Find a Shell Near You:
- Use a Search Engine:
- Open your preferred web browser.
- In the search bar, type “Shell gas station near me” or “Shell petrol station near me” and press Enter.
- Use a Maps Application:
- Open a maps application on your smartphone or computer (e.g., Google Maps, Apple Maps, etc.).
- In the search bar, type “Shell” and press Enter or tap the search icon.
- Ask a Voice Assistant (if available):
- If you have a voice assistant like Siri (on Apple devices), Google Assistant (on Android devices), or Amazon Alexa (on supported devices), you can simply say, “Find me the nearest Shell gas station.”
- Check the Official Website:
- Visit the official Shell website and use their station locator tool. Look for a “Find a Station” or similar option on the Shell website.
- Use a Gas Station Locator App:
- Various apps are available for finding gas stations, including those from major chains like Shell. Examples include GasBuddy, Waze, and Fuel Finder.
- Ask Locals or Use Social Media:
- You can ask locals or use social media platforms like Facebook, Twitter, or community forums for recommendations on where to find a Shell gas station nearby.
Shell Gas Stations in the USA:
Shell gas stations are a common sight throughout the United States, with more than 12,000 outlets in all 50 states. They offer a range of fuel options, including diesel, gasoline, and LPG, along with convenience store supplies.
Notable features of Shell gas stations include their convenient locations near major roads and crossroads, making them easily accessible. Many Shell stations provide additional services such as air pumps, tire pressure checks, car washes, and even cafes or restaurants.
With a reputation for reliability and convenience, Shell gas stations are a popular choice for drivers. Whether you’re traveling cross-country or running local errands, you’re likely to find a Shell gas station nearby.
