Shell Surpasses Profit Forecasts, Announces $3.5 Billion Share Buyback

Shell beats expectations with a 4% increase in dividend and a $3.5 billion share buyback program, reporting a 29% drop in full-year profit. The company's CEO emphasizes a focus on strengthening the balance sheet, shareholder distributions, and commitment to net-zero emissions by 2050, while investing in low-carbon projects. Shell's net debt increased to $43.5 billion by the end of the year, and weaker oil prices led to impairment charges. Oil prices were slightly lower on Thursday morning, and U.S. oil giants Exxon Mobil and Chevron are scheduled to report earnings on Friday.