Shell posts stronger-than-expected profit as gas offsets lower refining margins
Shell’s earnings comfortably beat market expectations last quarter, as higher volumes at its gas business helped offset a slump in profit margins at its refineries and lower oil prices. The oil and gas giant said adjusted earnings were 6.03 billion US dollars (£4.64 billion), down 3.1% from 6.22 billion dollars (£4.79 billion) during the same period last year. The figure beat a company-provided analyst consensus of 5.36 billion dollars (£4.13 billion), and Shell confirmed plans for further returns to shareholders. Total production at Shell’s integrated gas business was 941 thousands barrels of oil per day (boe/d), down on the last...
