<\/p>\n
Shell: billion dollar boost (pic: DB Media Services)<\/p>\n
Energy companies continue to post strong figures, with Shell seeing a near-$1 billion boost to first quarter profits and Centrica announcing a power station deal.<\/p>\n
Following BP\u2019s healthy update, Shell posted income attributable to shareholders of $5.7bn from $4.8bn in the first quarter of 2025.<\/p>\n
Shell also announced a new $3bn share buyback programme and declared a dividend of $0.3906 per share. <\/p>\n
The company is progressing with strategic portfolio developments, including the agreement to acquire Canadian firm ARC Resources. for $13.6bn and the sale of Jiffy Lube International for $1.3bn.<\/p>\n
Centrica provided an AGM statement indicating good strategic progress, including the acquisition of the 850MW Severn power station for approximately \u00a3370m, which is expected to contribute \u00a330m-\u00a360m of EBITDA annually from 2027. <\/p>\n
For the full year 2026, capital investment is projected at around \u00a31.1bn. Retail EBITDA is anticipated to be at the lower end of its \u00a3500m-\u00a3800m guidance range due to warmer weather and bad debt challenges.<\/p>\n
Harbour Energy has reported strong operational performance in Q1 2026 and upgraded its production guidance for the year.<\/p>\n
CEO Linda Z Cook said: \u201cThe conflict in the Middle East has created unprecedented disruption to energy markets,\u00a0restricting oil and gas flows and driving significant price volatility. <\/p>\n
\u201cAgainst this backdrop, we remain focused on playing our part in delivering the oil and gas the world needs, safely and efficiently.<\/p>\n
\u201cStrong operational reliability and execution\u00a0across our portfolio\u00a0enabled us to deliver\u00a0more than\u00a0half a million barrels of oil and gas per day in the first quarter. We also completed the acquisition of LLOG in the US and made good progress on our pipeline of active and future project developments.<\/p>\n
\u201cOur strong first quarter has allowed us to narrow upwards our production guidance for the full year and, supported by the current commodity price environment, increase our free cash flow outlook for 2026. <\/p>\n
\u201cAs a result, we see the potential for accelerated debt reduction while maintaining\u00a0competitive shareholder returns and disciplined investment in our portfolio, in line with our capital allocation framework.\u201d\u00a0<\/p>\n
Harbour Energy is set to complete the takeover of Waldorf Production, which fell into receivership after acquiring the assets from Edinburgh-based Capricorn Energy. Harbour\u2019s takeover bid was conditional on the court approving\u00a0a restructuring by Waldorf Production which tax authorities had opposed.<\/p>\n
Yesterday, a suitor pursuing Capricorn Energy was given more time to weigh up its options.<\/p>\n
Capricorn announced in March that it had received unsolicited non-binding proposals regarding a potential cash offer for the firm from Saudi-owned Alamadiyaf al-Masiyyah which has been given a new deadline of 3 June to confirm its position.<\/p>\n
Capricorn received a boost yesterday when a court cleared the way for the company to receive up to $5m which had been held up by a legal dispute concerning North Sea assets it once owned.<\/p>\n
\t #Shell #profits #surge #Centrica #buys #power #station #Daily #Business<\/p>\n","protected":false},"excerpt":{"rendered":"
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