Nov 1, 2018

Royal Dutch Shell sees profits jump as oil price rises

Royal Dutch Shell's profits surged by 37% in the third quarter of the year on the back of rising oil prices. The Anglo-Dutch giant said earnings excluding one-off items on a current cost of supply measure, which strips out price fluctuations, hit $5.6bn from $4.1bn last year. Rising oil and gas prices in the July-to-September period were the main driver of profits. Shell joins rivals, including BP, in reporting strong results. Royal Dutch Shell chief executive Ben van Beurden said: "Good operational delivery across all Shell businesses produced one of our strongest-ever quarters, with cash flow from operations of $14.7bn.".

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