Shell ends 2021 on high note in a sign of Big Oil's COVID recovery
Shell reported $6.4 billion in Q4 net earnings and a full-year 2021 profit of $19.3 billion today.
Why it matters: The big quarter and year is the latest sign of Big Oil's financial recovery from COVID-19 on the strength of higher commodity prices and demand.
- It follows profit growth reported by Exxon and Chevron in recent days. Shell said it would reward investors with $8.5 billion in share buybacks in the first half of 2022, and that it will raise dividends 4% this quarter.