Last update: 3:17 a.m. EST Jan. 9, 2008
By Benoit Faucon
Of DOW JONES NEWSWIRES
LONDON (Dow Jones)–Royal Dutch Shell PLC’s (RDSB.LN) investment in Canadian oil sands has more than doubled in the first nine of months of 2007 compared to the same period of 2006, figures released by the company Tuesday show.
According to data released to the U.S. Securities and Exchange Commission, Shell spent $1.28 billion in capital expenditure in the oil sands during the first three quarters of last year, compared to $542 million in the same year-earlier period.
The details, which underscore how critical the oil sands region has become to Shell, were made public as it confirmed it would disclose separate numbers for its oil sands business every quarter.
The document also shows Shell’s earnings from the oil sands stood at $183 million in the third quarter, down from $225 million in the year-earlier period.
Company Web site: www.shell.com
-By Benoit Faucon, Dow Jones Newswires; +44-20-7842-9266; [email protected]
(END) Dow Jones Newswires
January 09, 2008 02:41 ET (07:41 GMT)
-Contact: 201-938-5400
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