The Anglo-Dutch oil and gas company Shell's profits more than doubled in 2017, it announced on Thursday.
The earnings on a current cost of supplies basis (CCS) attributable to shareholders, excluding identified items, grew from 5.77 billion euros (7.17 billion U.S. dollars) in 2016 to 12.67 billion euros in 2017.
According to Shell, the full year earnings benefited mainly from higher oil, gas and LNG prices and also from improved refining performance and higher production from new fields.
In the fourth quarter of 2017, the CCS earnings attributable to shareholders, excluding identified items, were 3.46 billion euros, compared to 1.44 billion euros in Q4 of 2016, reflecting rising earnings in all businesses.
The income attributable to shareholders amounted to 10.43 billion euros in 2017, compared to 3.67 billion euros in 2016, an increase of 184 percent, said the company.
In February 2016, Shell completed the acquisition of the British oil and gas company BG Group, which had impacted the figures of 2016, a transition year, in which two companies had to be integrated. The reshaping of Shell continued in 2017.
"2017 was a year of strong financial performance for Shell," said CEO Ben van Beurden in a press release. "A year of transformation, in which we showed we have what it takes to deliver a world-class investment case." (1 euro = 1.24 U.S. dollars)
The earnings on a current cost of supplies basis (CCS) attributable to shareholders, excluding identified items, grew from 5.77 billion euros (7.17 billion U.S. dollars) in 2016 to 12.67 billion euros in 2017.
According to Shell, the full year earnings benefited mainly from higher oil, gas and LNG prices and also from improved refining performance and higher production from new fields.
In the fourth quarter of 2017, the CCS earnings attributable to shareholders, excluding identified items, were 3.46 billion euros, compared to 1.44 billion euros in Q4 of 2016, reflecting rising earnings in all businesses.
The income attributable to shareholders amounted to 10.43 billion euros in 2017, compared to 3.67 billion euros in 2016, an increase of 184 percent, said the company.
In February 2016, Shell completed the acquisition of the British oil and gas company BG Group, which had impacted the figures of 2016, a transition year, in which two companies had to be integrated. The reshaping of Shell continued in 2017.
"2017 was a year of strong financial performance for Shell," said CEO Ben van Beurden in a press release. "A year of transformation, in which we showed we have what it takes to deliver a world-class investment case." (1 euro = 1.24 U.S. dollars)
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