Shell earnings rise on the back of higher oil prices

LONDON — Anglo Dutch energy giant Shell says its fourth-quarter earnings rose 32 percent as the company took advantage of higher oil prices following years of streamlining operations.

Earnings excluding one-time items and fluctuations in the value of inventories — the industry's favored measure of performance — rose to $5.69 billion in the final three months of 2018 from $4.30 billion in the same period a year earlier. Net income jumped 47 percent to $5.59 billion.

Shell is benefiting from a rebound in energy prices after it slashed costs and reined in investment when crude oil plunged to less than $30 a barrel in 2016.

But the company says it is bracing for a decline in first-quarter production in its integrated gas and upstream divisions because of the divestments.

You may also interested in

The dirty dozen: UN issues list of 12 most...

Feb 27, 2017

The World Health Organization has issued a list of the top dozen bacteria most dangerous to humans,...

UK judge says Tunisia police 'shambolic' during...

Feb 28, 2017

The Tunisian police response to a deadly gun attack on a popular beach resort was "at best...

Global stocks weighed down by crude oil slump

Mar 9, 2017

World stock markets fell Thursday after news of a big buildup in U.S. oil stockpiles depressed...

Log in, look out: Cyber chaos may grow at...

May 15, 2017

Employees booting up computers at work Monday could see red as they discover they're victims of a...

Rape inquiry dropped, WikiLeaks' Assange remains...

May 19, 2017

WikiLeaks founder Julian Assange no longer is the subject of an active rape investigation in...

Sign up now!

About Us

Future Science Today reports on captivating developments in science, medicine, technology, and the world around us.

Contact us: sales[at]futuresciencetoday.com