Shell increases dividend despite falling profits

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Mr van Beurden said more details on renewable energy growth targets would be provided in February.

He added, “But if you look at the hydrogen, bio, and energy companies, which are all part of this marketing platform from which we then want to build these companies, this part of our company will attract around 25% of our capital.

“It’s actually more than doubling – in total we’ve tended to spend around 11% on this part of the business over the past three years. How it goes – wait until February. “

Asked about the depressed stock price, Mr van Beurden said the oil and gas sector had been ‘in the niche’ due to the indiscipline of capital, as well as the risks of switching to low-emission energy. of carbon.

However, he argued that Shell was now more disciplined in its spending and was “performing remarkably well”, adding: “We have to show that we have the promise of growth in the future, but also now. “

RBC analyst Biraj Borkhataria said Shell has delivered a solid set of results that put the company “in the spotlight” with investors.

Citi analysts said Shell had “delivered a good quarter and promises of a better distribution plan to shareholders.”

Shares rose 1.3% to 911p but were above £ 22 at the start of the year.

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