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Shell swings to a net profit in Q3

by ChemOrbis Editorial Team -
  • 01/11/2016 (14:56)
According to media reports, Royal Dutch Shell PLC announced its financial results for the third quarter. The company’s Q3 profit increased to $1.4 billion compared with a loss of $6.1 billion in the same period of 2015. This increase was attributed to strong output due to the company’s acquisition of BG Group and lower operating costs.

The company’s adjusted earnings climbed to $2.8 billion from $2.4 billion last year, beating analysts’ expectations which called for a $1.8 billion profit in a survey conducted by Dow Jones.

However, Shell is taking a cautious stance due to the rapid declines in oil prices for the last two years.

Shell’s Chief Executive Ben van Beurden said, “Lower oil prices continue to be a significant challenge across the business, and the outlook remains uncertain.”
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