Business
Shell says Q2 net profits triple to $5.307bn
Publish Date: Jul 31, 2014
Shell says Q2 net profits triple to $5.307bn
Shell
  • mail
  • img
newvision

Anglo-Dutch oil giant Royal Dutch Shell said Thursday that net profits more than tripled in the second quarter, boosted by asset sales and higher oil prices.
 
Earnings after taxation soared by 206 percent to $5.307 billion (3.961 billion euros) in the three months to June compared with $1.737 billion in the same part of 2013, Shell said in a results statement, adding it has completed $8.0 billion of assets so far this year.
 
"We are making progress with the priorities I set out at the start of 2014: to balance growth and returns by focusing on better financial performance, enhanced capital efficiency, and continued strong project delivery," said chief executive Ben van Beurden.
 
He added: "Sharper accountability in the company means that we are targeting our growth investment more effectively, focusing on areas of the business where performance improvement is most needed, and driving asset sales in non-strategic positions."
 
Shell added that profit on a current cost of supplies (CCS) basis or current-cost accounting -- which strips out changes to the value of oil and gas inventories -- and excluding identified items jumped by a third to $6.126 billion in the period.
 

Related Stories

Shell to be run by Vivo Energy

Shell Uganda assures employees of job security

Shell maintains petrol prices as shortage persists

 

The statements, comments, or opinions expressed through the use of New Vision Online are those of their respective authors, who are solely responsible for them, and do not necessarily represent the views held by the staff and management of New Vision Online.

New Vision Online reserves the right to moderate, publish or delete a post without warning or consultation with the author.Find out why we moderate comments. For any questions please contact digital@newvision.co.ug

  • mail
  • img
blog comments powered by Disqus
Also In This Section
EAC boss decries non-tariff barriers within Community
There is still slow progress in the removal of Non-Tariff Barriers in the East African Community (EAC) despite efforts in implementing commitments made in the customs union and common market protocol....
Uganda
The Lord Mayor of London says Uganda’s 6% economic growth per year is an enviable success compared to other giant and emerging economies....
NDA arrests herbalists for vending fake drugs
Sixteen herbalists including four Kenyans Masai medicine men have been arrested by National Drug Authority (NDA) in Kampala for hawking fake drugs....
UTB partners with Golf club to woo tourists
No sport draws crowds of the world’s most extravagant spenders like golf. It is with this in mind that Uganda Tourism Board (UTB) has positioned itself to utilise golf as an avenue to promote Uganda’s tourism....
Accountants’ body to start new course with MUK
The Institute of Certified Public Accountants of Uganda (ICPAU) is in advanced stages of starting a public finance management course in conjunction with Makerere University....
Bank of Africa launches bank on wheels
Kampala folks were surprised during the launch of Bank on wheels launch at Bank of Africa (BOA) headquarters....
Do kingdoms deserve more benefits?
yes
No
Can't Say
follow us
subscribe to our news letter