Shell beats forecasts as profits more than double

Shell has reported profits have more than doubled between July and September helped by high oil and gas prices.

The Anglo-Dutch energy giant said underlying profit reached $9.5bn in the third quarter.

That compares to $4.2bn during the same period last year though it is a slowdown from the second quarter when it announced record figures.

The invasion of Ukraine sparked oil and gas prices to rise as nations pledged to cut dependence on Russian energy.

Wholesale oil prices have dropped from highs of $120 a barrel in June to around $95 currently.

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out /  Change )

Twitter picture

You are commenting using your Twitter account. Log Out /  Change )

Facebook photo

You are commenting using your Facebook account. Log Out /  Change )

Connecting to %s