Shell's Fourth-Quarter Earnings Dive

Shell reported a decline in fourth-quarter profits due to decreased refining margins and LNG trading. Adjusted earnings for the quarter ending December 31 dropped to $3.66 billion, compared to $7.31 billion in the previous year. This highlights significant challenges in the energy sector.

Shell announced a significant reduction in its fourth-quarter profits, attributing the downturn to lower refining margins and subdued liquefied natural gas (LNG) trading.

The energy giant reported adjusted earnings of $3.66 billion for the quarter ending December 31, a sharp decrease from $7.31 billion in the corresponding period last year.

This substantial earnings drop underscores the ongoing challenges faced by the energy industry amidst fluctuating market dynamics and regulatory landscapes.

(With inputs from agencies.)