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Feb 3, 2022 - Energy & Environment

Shell ends 2021 on high note in a sign of Big Oil's COVID recovery

Ben Geman
The Shell logo is displayed at a Shell gas station on July 26, 2018 in San Francisco, California.

A Shell gas station in San Francisco, Calif. Photo: Justin Sullivan/Getty Images

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.
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