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00:02Shell reported stronger-than-expected first-quarter profit as higher energy prices during the Iran
00:07War boosted earnings, according to CNBC. The oil major reported adjusted first-quarter earnings
00:13of $6.92 billion, surpassing LSEG estimates of $6.1 billion and rising from $5.58 billion a year
00:22earlier. Energy supermajors have seen their shares rise alongside soaring fossil fuel prices since
00:28the U.S. and Israeli-led war against Iran began on February 28. Shell increased its dividend 5%
00:34to $0.3906 per share and cut its quarterly buyback to $3 billion from $3.5 billion.
00:43CEO Whale Sowen said the company delivered strong operational performance during disruption in
00:49global energy markets. Shell shares fell 2% Thursday morning. The stock is still up around 15% year-to
00:56-date,
00:56although it has underperformed BP, Total Energies, ExxonMobil, and Chevron.
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