Shell: 'strong' results in the second quarter; shares up.
(CercleFinance.com) - Shell said it generated "strong results" in the second quarter, although stating that it will have to remain "very disciplined" given the current price environment and energy sector developments.
Net income attributable to shareholders in the past quarter, based on a current cost of supplies (CCS) and excluding exceptional items rose 245 per cent to 3.6 billion dollars, compared with just one billion dollars one year ago.
Oil and gas production slightly decreased in the quarter to below 3.5 million barrels of oil equivalent per day.
The firm generated a cash flow from operating activities of 11.3 billion dollars in the quarter, from 2.3 billion dollars a year earlier.
"Cash generation has been resilient over four consecutive quarters, at an average oil price of just under 50 dollars per barrel," commented chief executive Ben van Beurden.
Shell's London-listed "A" shares were up 0.8 per cent at 2,103 pence, compared with a 0.3 per cent rise in the STOXX Europe 600 Optimised Oil & Gas index.
Copyright (c) 2017 CercleFinance.com. All rights reserved.
Net income attributable to shareholders in the past quarter, based on a current cost of supplies (CCS) and excluding exceptional items rose 245 per cent to 3.6 billion dollars, compared with just one billion dollars one year ago.
Oil and gas production slightly decreased in the quarter to below 3.5 million barrels of oil equivalent per day.
The firm generated a cash flow from operating activities of 11.3 billion dollars in the quarter, from 2.3 billion dollars a year earlier.
"Cash generation has been resilient over four consecutive quarters, at an average oil price of just under 50 dollars per barrel," commented chief executive Ben van Beurden.
Shell's London-listed "A" shares were up 0.8 per cent at 2,103 pence, compared with a 0.3 per cent rise in the STOXX Europe 600 Optimised Oil & Gas index.
Copyright (c) 2017 CercleFinance.com. All rights reserved.