Premier hails first oil out of Catcher
● Production is to be ramped up to 60,000 barrels a day during 2018
is emerging from an extended slump. The company confirmed in November that it was cancelling the scrip dividend programme that was in place since 2015, which gave shareholders the option to receive payments in shares or cash as it battled tough market conditions and a plunge in oil prices sparked by lower demand and a glut in supply.
Shell also increased its cash generation forecast as Brent crude prices continue to hold above $60 a barrel, having fallen as low as $27.26 in January.
And in a surprise announcement last week, Shell said it had acquired energy group First Utility in a move that will see it become a direct energy provider to 825,000 British homes.
President Trump signed the $1.5 trillion (£1.1tn) tax overhaul into law last Friday, cutting tax rates for businesses and also offering some temporary cuts for some individuals and families. He has said his sweeping reforms will act as an economic rejuvenator and claimed that the steep cuts in the corporate tax rate will invigorate the economy.
Barclays also announced its expected an impact from the new tax laws, saying it is set to take a £1bn charge to its 2017 accounts. However, it said the overall tax cut is likely to “positively impact” future earnings.