Shell, a British oil major, reported its adjusted earnings, a definition of net profit, reached $9.84 billion in the second quarter, more than doubling its profit from the same time last year.
The company’s earnings were supported by higher oil and gas prices, stronger LNG and oil trading, and improved chemicals margins, offsetting lower sales volumes from disruptions to its Qatar operations during the conflict in the Middle East.
Analysts had expected a net profit of $8.92 billion, according to a company-provided consensus, compared with $4.26 billion a year earlier.
Shell said it would maintain the pace of its share buyback program at $3 billion over the next three months.
Original reporting: Appleton, WI News Feed (HLL/CB) — read the source article.
