Shell profit beats expectations, buybacks kept steady
LONDON (Reuters) -Shell exceeded analyst expectations on Friday, reporting a 28% drop in first-quarter net profit to $5.58 billion, while holding steady the pace of its share buyback programme despite falling oil prices and lower refining margins. "The main (opportunity) for me is, at the moment, the ability to buy back my shares," finance chief Sinead Gorman said in a call. Shell said it would buy back shares worth $3.5 billion over the next three months, the 14th consecutive quarter of a buyback programme of at least $3 billion.