Shell profits surge as Iran war drives oil prices higher

Shell profits surge as Iran war drives oil prices higher

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Shell profits surge as Iran war drives oil prices higher
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Shell plc reported stronger-than-expected first-quarter earnings due to rising oil and gas prices from the Iran war, with adjusted earnings increasing to $6.9bn. The company announced a 5% dividend increase and a $3bn share buyback. Despite operational setbacks in Qatar and Australia, Shell's production outlook improved with the acquisition of ARC Resources. The rise in profits has sparked discussions on extending the windfall tax on energy earnings in the UK.

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Pozitív kontextus
stronger-than-expected, strong results, unprecedented disruption, higher prices, meaningful step, modest growth
Negatív kontextus
operational setbacks, damage, stoppages, squeezed, higher energy bills