Shell: profits up with higher fuel prices
(CercleFinance.com) - Shell said it benefited from "strong financial performance" in 2017, generating almost 15 billion dollars in earnings attributable to shareholders over the full year.
In Q4 alone, Shell's current cost of supplies (CCS) earnings excluding identified items - the sector's favorite way to measure profits - grew to 4.3 billion dollars, from 4.1 billion euros a year ago.
The business benefited from higher oil, gas and LNG prices, but also from improved refining performance and higher production from new fields, the British energy group said.
"We enter 2018 with continued discipline and confidence, committed to the delivery of strong returns and cash," Royal Dutch Shell's CEO Ben van Beurden commented.
Shell shares, which offer a quarterly dividend of 0.47 dollar, were trading down 1.2% at 2,465.5 pence after these figures, underperforming the STOXX Europe 600 Optimised Oil & Gas index, which was up 1.2%.
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