Shell reports 18 percent rise in quarterly profit, beating forecasts

LONDON (Reuters) – Royal Dutch Shell <RDSa.L> reported an 18 percent rise in underlying net profit for the third quarter on Tuesday, beating analysts’ forecasts as it announced next year’s capital spending will be at the bottom of the expected range.

Net income in the quarter, based on a current cost of supplies (CCS) and excluding exceptional items, rose to $2.8 billion (2.28 billion pounds), which the company said compared with analysts’ expectations of $1.71 billion.

Shell disappointed the market with its second-quarter results, the first full quarter following the completion of the BG acquisition in February, by missing expectations by around 50 percent.

Shell said its 2017 capital spending was expected to be at around $25 billion, at the bottom of the range previously provided. This year’s capex will be around $29 billion.

(Reporting by Ron Bousso, editing by Louise Heavens)

Share this article

Follow Offshore Energy Today

Posted on November 1, 2016 with tags , .

Events>

<< Apr 2019 >>
MTWTFSS
1 2 3 4 5 6 7
8 9 10 11 12 13 14
15 16 17 18 19 20 21
22 23 24 25 26 27 28
29 30 1 2 3 4 5

GeoConvention 2019

GeoConvention offers some of the best local and international insights to efficient energy exploration…

read more >

16th MOSCOW INTERNATIONAL OIL AND GAS EXHIBITION

The Moscow International Oil & Gas Exhibition display products like oil and gas products, oil and gas services…

read more >

Erbil International Oil & Gas Exhibition 2019

The event will be held at the Erbil International Fair Ground which is one of the largest energy related events in Iraq…

read more >

THE 24 th IRAN INTERNATIONAL OIL , GAS , REFINING & PETROCHEMICAL EXHIBITION

The second largest OPEC producer, Iran sits atop 11 percent of oil and 18 percent of gas…

read more >

Jobs>

Looking to fill a job opening?

By advertising your job here, on the homepage of OffshoreEnergyToday.com, you'll reach countless professionals in the sector. For more information, click below...

apply

Looking to fill a job opening?

By advertising your job here, on the homepage of OffshoreEnergyToday.com, you'll reach countless professionals in the sector. For more information, click below...

apply

Looking to fill a job opening?

By advertising your job here, on the homepage of OffshoreEnergyToday.com, you'll reach countless professionals in the sector. For more information, click below...

apply