Shell Q4 profits smash forecasts, lifted by oil and gas prices

Shell reported on Thursday a sharp rise in fourth-quarter profits to $6.4 billion, beating forecasts, lifted by soaring oil and natural gas prices as global economic activity picked up.

Fourth-quarter 2021 adjusted earnings rose by 55 percent from the previous quarter, above an average analyst forecast provided by the company for a $5.2 billion profit.

That compares with earnings of $393 million a year earlier.

For the year, Shell’s adjusted earnings rose to $19.3 billion, compared with $4.85 billion in 2020.