Home Business News Shell posts $4.8bn in earnings despite lower oil prices

Shell posts $4.8bn in earnings despite lower oil prices

by LLB Reporter
31st Oct 19 10:00 am

Royal Dutch Shell has posted earnings of $4.8bn ahead of the $3.91bn that was expected by analysts.

Shell had a boost in oil and liquified gas that helped to offset the impact of lower oil prices that have fallen by 17% year-on-year.

In the third quarter Shell’s profits fell by 15% as the oil giant are feeling the strain of lower prices.

Chief executive Ben van Beurden said, “This quarter we continued to deliver strong cash flow and earnings, despite sustained lower oil and gas prices, and chemicals margins.

“Our earnings reflect the resilience of our market-facing businesses and their ability to capitalise on market conditions, including very strong trading and optimisation results this quarter.”

In early morning trading Shell’s shares fell by 3% to 2264p.

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