Arab Today, arab today shell q2 profit rises to 8 bln on high oil price
Last Updated : GMT 11:41:43
Arab Today, arab today
Arab Today, arab today

Shell Q2 profit rises to $8 bln on high oil price

Arab Today, arab today

Arab Today, arab today Shell Q2 profit rises to $8 bln on high oil price

London - AFP

Oil giant Royal Dutch Shell reported Thursday second quarter net profit rose to $8.0 billion compared with $4.5 billion in the same period last year due to a strong rise in the price of crude. Earnings in the period from April through June increased by 56 percent to $6.6 billion compared with $4.2 billion in the second quarter of 2010, the company said in a statement. \"Our second quarter 2011 earnings were higher than year-ago levels, driven by increased energy prices and Shell\'s operating performances,\" company chief executive Peter Voser said in a statement. Voser said that the outlook for the rest of the year was positive. \"We have made important progress with new production in 2011, and the ramp-up of our new projects should drive our financial performance in the coming quarters,\" he said.

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