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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.

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