Shell doubled its crude and refined products trading profits in 2020 from 2019, with its trading offsetting some of the negative effects of the collapse in refining margins and fuel demand during the pandemic. Shell’s detailed annual report for 2020 from this week showed that its Trading & Supply segment was a large contributor to the Oil Products division, with earnings rising to nearly $2.
6 billion, double the $1.3 billion of Trading & Supply earnings for 2019. Total earnings in the Oil Products division were down to $5.995 billion…Shell Doubled Its Oil Trading Profits In 2020
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