shell profit rises on higher oil
Last Updated : GMT 10:08:56
Arab Today, arab today
Arab Today, arab today

Shell profit rises on higher oil

Arab Today, arab today

Arab Today, arab today Shell profit rises on higher oil

Abu Dhabi - Arabstoday

Royal Dutch Shell beat forecasts with an 11 percent rise in fourth-quarter profit, as higher oil prices outweighed the impact of lower U.S. gas prices. Europe’s largest oil company by market capitalization said on Thursday its current cost of supply (CCS) net income was $7.70 billion. Excluding one-offs, the result was $7.27 billion, compared with a forecast for $6.70 billion in a company poll of analysts. Shell lifted its target for assets sales in 2012 to $4 billion from $2-3 billion, echoing an industry trend of companies trying to churn their portfolios more regularly. By jettisoning mature assets earlier in their life cycle, companies hope to focus reserves on higher growth activities. Production was up 1.4 percent in the quarter compared to the same period a year earlier at 3.55 million barrels of oil equivalent per day, with the ramp-up of new projects being off-set by asset sales. Shell’s refining division produced a weaker underlying result despite some improvement in industry refining margins. Chief executive Peter Voser said he expected weakness in the division to continue, and for low U.S. natural gas prices to continue to eat into profit. “In downstream and North American natural gas we see continued challenges for our industry,” he said. Brent crude prices averaged $118.60 per barrel last quarter, up from $105.43 a year before. CCS earnings strip out unrealised gains or losses related to changes in the value of inventories, and as such are comparable with net income under U.S. accounting rules.

arabstoday
arabstoday

Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

shell profit rises on higher oil shell profit rises on higher oil

 



Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

shell profit rises on higher oil shell profit rises on higher oil

 



Arab Today, arab today
Arab Today, arab today Jordanian woman reveals her project

GMT 00:46 2017 Saturday ,11 November

Jordanian woman reveals her project
Arab Today, arab today Saudis clear passenger flights

GMT 08:38 2017 Saturday ,25 November

Saudis clear passenger flights
Arab Today, arab today Sophian Yussef reveals suitable decoration

GMT 02:56 2017 Thursday ,23 November

Sophian Yussef reveals suitable decoration
Arab Today, arab today Syria congress to go ahead

GMT 02:24 2017 Friday ,24 November

Syria congress to go ahead
Arab Today, arab today IS media offline for a day

GMT 02:10 2017 Friday ,24 November

IS media offline for a day
Arab Today, arab today
Arab Today, arab today
Arab Today, arab today Human form of 'mad cow' disease

GMT 00:11 2017 Friday ,24 November

Human form of 'mad cow' disease
Arab Today, arab today British woman jailed in Iran to appear

GMT 03:19 2017 Friday ,24 November

British woman jailed in Iran to appear
Arab Today, arab today 'Trash islands' off Central America indicate

GMT 20:19 2017 Friday ,24 November

'Trash islands' off Central America indicate
Arab Today, arab today The history of solar eclipses

GMT 05:16 2017 Sunday ,20 August

The history of solar eclipses
Arab Today, arab today Mitsubishi Materials units falsified product

GMT 03:24 2017 Friday ,24 November

Mitsubishi Materials units falsified product
Arab Today, arab today 'Robo-taxis' hold promise, and perils

GMT 08:07 2017 Thursday ,23 November

'Robo-taxis' hold promise, and perils
Arab Today, arab today Heidy underlines works like “Seventh Neighbor”

GMT 13:59 2017 Thursday ,23 November

Heidy underlines works like “Seventh Neighbor”
Arab Today, arab today Delhi half-marathon to go ahead

GMT 03:51 2017 Saturday ,18 November

Delhi half-marathon to go ahead

GMT 07:56 2017 Wednesday ,22 November

Solaf happy for participating in “Hotline”

GMT 08:03 2017 Thursday ,23 November

Srebrenica women cry tears of joy

GMT 18:41 2017 Friday ,20 October

Designer Aql Faqih aspires to innovation

GMT 16:04 2017 Friday ,17 November

paObama climate envoy slams Trump's rejection

GMT 17:52 2017 Sunday ,03 September

Etiquette expert underlines importance of gifts

GMT 09:12 2017 Thursday ,23 November

4 in 10 cancers due to modifiable risk

GMT 10:39 2017 Thursday ,23 November

Air China suspends flights to North Korea

GMT 17:12 2017 Monday ,07 August

Al-Shawaifi reveals secrets of total solar eclipse

GMT 16:53 2017 Tuesday ,05 September

Youssra depended on colored foam
Arab Today, arab today
Arab Today, arab today
 
 Arab Today Facebook,arab today facebook  Arab Today Twitter,arab today twitter Arab Today Rss,arab today rss  Arab Today Youtube,arab today youtube  Arab Today Youtube,arab today youtube
arabstoday arabstoday arabstoday arabstoday
arabstoday arabstoday arabstoday
arabstoday
بناية النخيل - رأس النبع _ خلف السفارة الفرنسية _بيروت - لبنان
arabstoday, Arabstoday, Arabstoday