Shell raises profit and brings down debt

More stable oil prices and reduced costs have made life easier at one of the world's largest oil and gas producers.

Photo: /ritzau/Preben Kirkholt

Higher oil prices and successful cost reductions across exploration and operations have sent profits sky-high for Shell.

Altogether, the global oil giant's profits soared by 47 percent in the third quarter, in a year which also saw Shell exceed expectations in the first half of 2017. The company earned USD 4.2 billion in the third quarter measured in "current cost of supplies," the most widely-used accounting method in financial circles. This is in contrast to USD 2.8 billion in the same quarter last year, and analyst expectations of USD 3.6 billion.

Read the whole article

Get 14 days free access.
No credit card required.

An error has occured. Please try again later.

Get full access for you and your coworkers.

Start a free company trial today

More from EnergyWatch

GE implements 3D printing for making component molds

Developing the world's largest 3D printer will enable the OEM to make molds for nacelle components of up to 9.5 meters in diameter and weighing more than 60 tonnes by means of additive manufacturing. Initial testing is set to begin in early 2022.

Further reading

Related articles

Trial banner

Latest News

See all jobs