Shell Makes as Much Money at $60 a Barrel as When It Was $100




The oil-price rally worked both ways for Royal Dutch Shell Plc as improved exploration and production lifted profit to a three-year high while refining and trading fell short of expectations as margins shrank. Crude’s surge raised adjusted profit at Europe’s largest energy company to $4.3 billion last quarter, the highest since 2014. While the bottom line was better than expected — and Shell is making as much money with oil at $60 a barrel as when it was $100 — cash flow was the weakest since 2016. FULL ARTICLE
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Posted in: Ben van Beurden, BG Group, Bloomberg, Exxon Mobil, Oil, Oil Company Profits, Oil Prices, Royal Dutch Shell Plc, Shell.
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