British oil major Shell plc announced its fourth-quarter earnings results on Thursday, confirming a $4 billion share buyback program that should be completed by the time the company publishes results for the first quarter of 2023.
The company's fourth-quarter adjusted earnings arrived at higher than expected $9.81 billion in 2022, with adjusted earnings per share of $1.39. The oil and gas output also topped market estimates in the same period, reaching 2.83 million barrels of oil equivalent per day (boe/d).
The British oil & gas giant reported adjusted earnings of $39.9 billion for 2022. At the same time, it confirmed plans to reach net zero carbon emissions by 2050, revealing that it has already started to cut emissions from its products last year.
