LONDON: Royal Dutch Shell said Thursday that net profit jumped 43 percent in the third quarter, energised like its competitors by rising oil and gas prices. Profit after tax leapt to $5.84 billion (5.15 billion euros) in the three months to September from $4.09 billion in the same period of 2017, the Anglo-Dutch energy giant said in a statement. Production however declined two percent to 3.596 million barrels of oil equivalent per day amid the group\u2019s ongoing asset disposal strategy\u201dEarnings primarily benefited from increased realised oil, gas and liquefied natural gas (LNG) prices,\u201d it added. Profit on a current cost-of-supplies (CCS) basis — which strips out changes to the value of its oil and gas inventories — gained 37 percent to $5.6 billion in the third quarter. Revenues increased 32 percent to more than $100 billion. Shell has expanded rapidly into liquefied natural gas following its 2016 takeover of Britain\u2019s BG Group. The group had announced in early October that it had approved a vast liquified natural gas project in British Columbia, Canada, to help meet an expected boom in Asian demand.<\/p>\n","protected":false},"excerpt":{"rendered":"
LONDON: Royal Dutch Shell said Thursday that net profit jumped 43 percent in the third quarter, energised like its competitors by rising oil and gas prices. Profit after tax leapt to $5.84 billion (5.15 billion euros) in the three months to September from $4.09 billion in the same period of 2017, the Anglo-Dutch energy giant […]<\/p>\n","protected":false},"author":2,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[5],"tags":[],"class_list":{"0":"post-33236","1":"post","2":"type-post","3":"status-publish","4":"format-standard","6":"category-business"},"yoast_head":"\n