Shell to make first profit from oil output since pandemic

Despite chief executive Ben van Beurden (pic) saying Shell was on the “right side” of moves in the market for liquefied natural gas in January – when prices rose to record highs – first-quarter trading and optimisation results in its integrated gas unit will be “significantly below average.”

LONDON: Royal Dutch Shell Plc expects to make the first profit from pumping oil since the start of the pandemic.

Shell’s upstream unit, which largely handles the exploration and production of crude, was able to capture “the upside from the current commodity price environment” in the first quarter, the company said.