Segment Transcript

Shell has released their fourth quarter earnings report. The report shows a strong performance for the company despite lower oil and gas prices compared to third quarter 2022. The earnings adjusted for interest, taxes, depreciation and amortization added, EBITDA, shows a net income of $20.6 billion dollars. The portfolio was helped by the acquisition of Nature Energy of Denmark. Shell Chief Executive Officer Wael Sawan says quote “Our results in Q4 and across the full year demonstrate the strength of Shell's differentiated portfolio, as well as our capacity to deliver vital energy to our customers in a volatile world. We believe that Shell is well positioned to be the trusted partner through the energy transition. As we continue to put our Powering Progress strategy into action, we will build on our core strengths, further simplify the organization and focus on performance.” End quote. For more information check out CarPro.com. With Today’s Auto News, I’m Laura Reynolds.