Royal Dutch Shell has doubled its profits following the oil major’s worst financial year in over a decade as the oil market recovery takes hold. The Anglo-Dutch oil giant said the “transformation” following its 2016 mega-merger with BG Group and $30bn portfolio overhaul has reopened flows of cash back into the business as oil prices soared to over $65 a barrel last year, from under $30 a barrel at its lowest point in early 2016. Shell’s earnings on a ‘current cost of supply’ (CCS) basis, which is a standard oil industry measure, more than doubled from the previous year to reach $15.8bn (£11bn) for 2017. FULL ARTICLE
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