0843 GMT - Shell's first-quarter earnings confirms it is the most resilient integrated oil company in a weak macroeconomic environment, Jefferies analysts Giacomo Romeo and Kai Ye Loh write. Debt ticked up over the period but it was driven by working capital increases and lease additions related to the Pavilion Energy acquisition, they add. Without the additional payments, Shell would have actually reduced its net debt, the analysts write. Overall, Shell delivered better-than-expected performance across all key divisions, they add. Shares trade up 3.2% at 2,514 pence. (adam.whittaker@wsj.com)
(END) Dow Jones Newswires
May 02, 2025 04:43 ET (08:43 GMT)
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