Subscribe
Shop Local
Magazine
Gas Prices
Today's Poll!Shell Q2 profit nearly doubles to $8.66 billion
Thursday, July 28, 2011
AMSTERDAM (AP) — Royal Dutch Shell PLC, Europe’s largest oil company, has reported a near doubling in second quarter profits to $8.66 billion even though production dipped modestly.
Shell said Thursday profits were boosted by higher oil prices, gains on hedging derivatives and the sale of businesses.
Net profit in the same period a year ago was $4.39 billion.
Though Shell has been investing heavily in new projects, production fell 2 percent to 3.05 million barrels per day.
Excluding sales, production would have risen 2 percent, it said.
Profits at the company’s downstream operations, which include its refining arm, declined slightly.
Marry Me
Comments
Use the comment form below to begin a discussion about this content.
Please review our Policies and Procedures before registering or commenting
Or login with:
OpenID