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How about we ban oil exports until gas prices come under control, and stop these gas companies run away profits. The USA is the largest oil producer in the world, but we let make outrageous profits, and hurt the US economy, while they export a tremendous amount of our oil.Shell posts $9.5 bln profit
LONDON, Oct 27 (Reuters) - Shell (SHEL.L) on Thursday posted a third-quarter profit of $9.45 billion, easing from the previous quarter's record high due to weaker refining and gas trading, as it announced plans to sharply boost its dividend by year end when its CEO departs. Shell also extended its share repurchasing programme, announcing plans to buy $4 billion of stock over the next three months after completing $6 billion in the previous quarter.
The company said it intends to increase its dividend by 15% in the fourth quarter, when Chief Executive Officer Ben van Beurden will step down after nine years at the helm.
He will be succeeded by Wael Sawan, the current head of Shell's natural gas and low-carbon division.
With a profit of $30.5 billion so far this year, Shell is well on track to exceed its record annual profit in 2008 of $31 billion.
Shell's shares gained over 40% so far this year, lifted by soaring oil and gas prices in the wake of Russia's invasion of Ukraine in February and amid tightening global oil and gas supplies.