HOUSTON - Financial details of Shell's vast oil and gas trading business are some of the company's closest-held secrets. Documents in a lawsuit filed by a former employee, however, revealed its U.S. crude trading regularly earns around $1 billion every year.
Shell's 2022 tax contribution report detailed a pre-tax profit of just over $7 billion total in the U.S. that year, while its 2021 pretax profit stood at about $6.36 billion.The British oil major does not disclose the financial performance of its oil and gas trading desk, the world's largest, although the lack of information worries some investors. The business can generate bumper profits, but can be volatile and even post losses.
A jury last Tuesday rendered a verdict favorable to Shell, nullifying Frohn's entire claim against Shell, according to the law firm that represented the company.Here’s How Much You’d Have Now If You Invested $1,000 in Warren Buffett’s Berkshire Hathaway 10 Years AgoMost retirees live on a fixed income, so they look for ways to cut down on expenses and save money. This isn't always easy to do, especially if you already feel like you're living with the least...