Shell posts mixed earnings amid volatile 'headwinds'

The figure included the accounting effect of changes in the value of oil held in storage.

Earnings after tax dropped to US$26.59 billion (19.62 billion euros) in 2012, compared with US$30.92 billion in the previous year, the Anglo-Dutch company revealed in its annual results statement.

Net profits though rose 3 percent to US$6.7 billion in the three months to December, from US$6.5 billion last time around. Production also grew by 3 percent to 3.41 million barrels of oil equivalent per day in the fourth quarter on a 12-month basis.

Adjusted net profits — stripping out gains or losses from fluctuations in the value of inventories — jumped 13 percent to US$7.29 billion in the fourth quarter, as higher refining margins offset increased costs in exploration and production.

Total revenues meanwhile increased by 2 percent to US$118.05 billion in the last three months of 2012.

SHARE CLOSE
Blogger		Google+
Live Journal		Plurk
Stumble Upon

Tweet

	PREVIOUS ARTICLE
	Tibetan burning 'inciters' guilty of murder: China

NEXT ARTICLE
Worldwide pension assets reach all-time high: study

Write a Comment

Terms

Enter your comments - 3000 characters max

Type in image code

 Receive China Post promos
 Respond to this email

Submit