Shell to buy back $3.5bn of shares as profits beat expectations

Shell has announced $3.5bn of share buybacks after exceeding market expectations with $6bn in adjusted earnings for the third quarter. Chief executive Wael Sawan has focused on improving financial performance by cutting costs, simplifying the energy transition approach, and streamlining operations. Despite a drop in earnings in the chemicals division, Shell maintained its dividend at $0.34 a share while reducing capital expenditure and debt to enhance balance sheet resilience.

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