Shell refineries forecast to make double the profit from every barrel of fuel
Shell refineries are projected to double their profit margins per barrel due to global fuel shortages caused by war-damaged infrastructure. Despite a slight dip in crude oil prices, the company has reached record market values.
Why it matters
It illustrates the disconnect between record corporate profits in the energy sector and the broader economic strain caused by global conflicts.
The market value of Shell rose to a record high of £36.23 a share at the end of last month. The market value of Shell rose to a record high of £36.23 a share at the end of last month. Shell Shell refineries forecast to make double the profit from every barrel of fuel Record prices caused by global shortages amid shutdown of war-damaged refineries in Middle East and Russia
Prefer the Guardian on Google Shell’s refineries are expected to make almost double the profit from every barrel of fuel produced owing to record prices caused by shortages around the world.
In a market trading update on Wednesday, the energy supermajor forecast profit margins of $42 a barrel in the July to September period, far above the $24 a barrel of the second quarter and the previous high of about $28 in mid-2022.
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