Shell reins in share buybacks after earnings fall 50%
CEO Ben van Beurden says if global economic conditions continue, Shell’s cash flow could fall by more than $7bn in 2020
30 January 2020 - 18:57
London — Royal Dutch Shell is reining in its vast $25bn share buyback programme after lower oil and natural gas prices halved its profit in the last three months of 2019 and sent its shares to their lowest in nearly three years.
The Anglo-Dutch oil giant warned again that a slowing global economy could affect its buyback programme, which is the world’s largest, and CEO Ben van Beurden said the coronavirus epidemic is dominating the negative backdrop...
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