BAKU, Azerbaijan, February 1. In 2023, Shell maintained its focus on disciplined spending, with a cash capex of $24.4 billion, Trend reports.
According to the company's latest financial results, Shell recorded a slight decrease in cash capex, compared to the previous fiscal year's $24.8 billion.
Meanwhile, Shell's cash capex for the fourth quarter of 2023 reached $7.1 billion, compared to $5.6 billion in the third quarter of the same year.
Looking ahead to 2024, the company anticipates a cash capex ranging from $22 to $25 billion.
Shell reported adjusted earnings of $7.3 billion for 4Q2023, a testament to its strong operational performance and notable results in liquefied natural gas (LNG) trading and optimization. The company's cash flow from operating activities (CFFO) for the quarter amounted to $12.6 billion, contributing to a total CFFO of $54.2 billion for the entire fiscal year of 2023.