Shell forecasts strong first-quarter oil trading results after Brent crude spiked to near $120 a barrel following regional geopolitical disruptions. The robust trading performance is expected to contribute significantly to first-quarter adjusted profits, reflecting the company’s active position in European commodity markets.

Shell is in advanced negotiations to sell its network of South African fuel stations to ADNOC for approximately $1 billion, aiming to streamline its downstream portfolio. Completion of the deal would allow Shell to reallocate capital toward higher-margin projects and strengthen its balance sheet.

At its annual general meeting on April 23, Shell will permit a shareholder vote on a Follow This climate resolution seeking binding emission targets, though management recommends voting against it. The vote underscores mounting investor pressure on Shell’s long-term decarbonization strategy and Scope 3 emissions commitments.