29/01/2007
Royal Dutch Shell will post another full-year profits record thanks to soaring oil prices.
Broker UBS expects net income of about $24.06bn (£12.22bn), exceeding the group’s previous best of $22.94bn (£11.67bn) set last year. But the performance in the fourth quarter, when profits are likely to be marginally lower, will carry more interest for investors.
Oil prices have eased by 30pc since hitting $77 in August, meaning Shell’s production record will be in focus. Output may have fallen marginally in the year, after attacks on its production facilities in Nigeria.
Shell is finding it tougher to replace its reserves, more difficult because of the loss of some of its interests in the Sakhalin-2 gas project to the Russian monopoly Gazprom.
http://www.telegraph.co.uk/money/main.jhtml?xml=/money/2007/01/29/ccweek29.xml
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