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A Shell worker refuels a vehicle at the first retail hydrogen fuelling station in Vancouver, Canada. (Reuters) Royal Dutch Shell’s profit last year dropped to its lowest in at least two decades as the coronavirus pandemic hit energy demand worldwide thoughthe company’s retail network and trading business helped cushion the blow. For more coronavirus news, visit our dedicated page . The Anglo-Dutch oil major’s annual profit slumped 71percent to $4.8 billion as its oil and gas production and profits from refining crude into fuels dropped sharply. For all the latest headlines follow our Google News channel online or via the app In a sign of confidence, however, Shell said it planned to raise its dividend in the first quarter of 2021, which would be the second slight increase since its slashed its payout by two-thirds at the start of last year due to the pandemic. Read more: Oil giant BP plunges into $20.3 bn annual loss due to coronavirus Analysts said that while Shell missed forecasts for both its fourth-quarter profit and cash flow, the results overall were not as bad as feared, especially after rival British BP posted a loss of $5.7 billion earlier this week. “We are […]
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