Wed Jan 25, 2006 12:21 PM ET
CALGARY, Alberta, Jan 25 (Reuters) – Shell Canada Ltd.'s (SHC.TO: Quote, Profile, Research) fourth-quarter profit more than tripled as the country's No. 3 oil producer and refiner benefited from surging oil and gas prices as well as rich refining returns, it said on Wednesday.
Shell Canada, which is majority-owned by oil major Royal Dutch Shell Plc (RDSa.L: Quote, Profile, Research), earned C$614 million ($534 million), or 74 Canadian cents a share, up from year-earlier C$182 million, or 22 Canadian cents a share.
The company is the first among major Canadian energy firms to report results for a fourth-quarter widely expected to set records due to unprecedented commodity prices.
Cash flow, a glimpse into an oil company's ability to fund development, more than doubled to C$930 million from C$437 million. Revenues were C$4 billion, up from C$3.1 billion.
Shell, best known for its national gas station chain, said earnings were also driven by sharply higher volumes at its northern Alberta oil sands project.
Oil sands production in the quarter averaged 106,800 barrels a day net to Shell's 60 percent interest, up from year-earlier 65,900, when half the plant was down for repairs, it said.
Full-year profit rose to a company-record C$2 billion, or C$2.44 a share, up 50 percent from C$1.2 billion, or C$1.56 a share, in 2004.
Shell Canada shares were off 60 Canadian cents at C$44.65 on the Toronto Stock Exchange. Royal Dutch Shell owns 78 percent of its Canadian affiliate.
Early this year, in response to rampant market rumors, Shell Canada said it had no knowledge of a plan by its parent to buy out the minority stake.
($1=$1.15 Canadian)
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Critic’s corner
30 November 2023: Posted by John Donovan
The content below is sourced from current verifiable customer reviews of Shell Energy published on Trustpilot.
Extremely slow broadband for 10 months, not fixed. I have had slow broadband well below the guaranteed speed for 10 months and Shell Energy have not been able to fix it. They have tried sending about 4 or 5 engineers but have not fixed the problem. Gurps, who I have been dealing with most recently, has been friendly and polite, alth… Read more
OVER 500 EXTERNAL PUBLICATIONS CITING OUR SHELL WEBSITES
See our link list of over 500 articles by the FT, Wall Street Journal, Reuters, Bloomberg, Forbes, Dow Jones Newswires, New York Times, CNBC etc, plus UK House of Commons Select Committee Hansard records, information on U.S. Securities & Exchange Commission website etc. all containing references to our Shell focussed websites, or our website founders Alfred and John Donovan. Includes TV documentary features in English and German, newspaper and magazine articles, radio interviews, newsletters etc. Plus academic papers, Stratfor intelligence reports and UK, U.S. and Australian state/parliamentary publications, also citing our Shell websites. Click on this link to see the entire list, all in date order with a link to an index of over 100 books also containing references to our non-profit websites and/or our activities.
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This is not a Shell website. That fact should be abundantly plain from the overall content of this home page and our sister Shell focussed websites, including shellnazihistory.com. Click on the Disclaimer link at top of this page for more information. You Can Be Sure Shell does not endorse or approve of this website. There are no subscription charges nor do we solicit or accept donations. No advertising is accepted. It is an entirely free to use non-commercial website drawing attention to the negative side of Shell. The Shell logo image with the white text used on this website, as per the above example, is in the public domain because its copyright has expired and its author is anonymous. It can be found here on WIKIMEDIA COMMONS. Use this link for Shell’s own website.
SHELL PROPPED UP APARTHEID
ARTICLE: U.S. unions urge boycott of Shell to fight apartheid: 19 Jan 1986
ARTICLE: Shell, South Africa and Apartheid: 16 Oct 2012
ARTICLE: Shell propped up racist apartheid regime in South Africa: 24 Nov 2012
ARTICLE: The Neptune Strategy:Shell, propped up Apartheid in South Africa: 26 Nov 2012
ARTICLE: Shell accused of benefiting from South African apartheid-era land law: 21 March 2013
ARTICLE: THE CAMPAIGN TO END APARTHEID: 12 Dec 2013
RELEVANT PAGES FROM "A HISTORY OF ROYAL DUTCH SHELL, VOLUME 3, PUBLISHED IN 2007. PREPARED BY SHELL'S PAID HISTORIANS. DEALS WITH SHELL'S SUPPORT FOR APARTHEID
SHELL TOXIC BRANDS
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