By JULIA WERDIGIER: July 28, 2011
LONDON Royal Dutch Shell, the biggest oil company in Europe, said on Thursday that its profit almost doubled in the second quarter on higher oil prices and as new oil and gas projects came on stream.
Profit rose to $8.7 billion in the April-through June period, from $4.4 billion in the same period last year, Shell said in a statement. Production fell 2 percent after Shell sold some assets and because of delays in drilling permits in the Gulf of Mexico.
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, the Shell chief executive Peter Voser said in the statement.