Shell profits boosted by a third

Shell profits boosted by a third

Anglo-Dutch oil giant Royal Dutch Shell put beleaguered rival BP in the shade today with a 34% hike in second-quarter profits to $4.2bn (€3.2bn).

The forecast-beating performance in an “uncertain” economic climate came as Shell unveiled a 5% increase in production and faster than expected progress on its $3.5bn (€2.7bn) cost-saving plans, which will see 7,000 jobs go.

Earlier this week BP revealed a £20.9bn (€25bn) hit from the Gulf of Mexico spill which sent it crashing into the red for the first time in 18 years.

Shell chief executive Peter Voser said the spill was a “tragedy for everyone affected”.

More in this Section

Toyota and Honda in major recall over faulty air bagsToyota and Honda in major recall over faulty air bags

Dunnes Stores was premature in challenging Point Village square disputeDunnes Stores was premature in challenging Point Village square dispute

Donald Trump to warn UK against ‘discriminatory’ tax on tech giantsDonald Trump to warn UK against ‘discriminatory’ tax on tech giants

Study: Dublin Airport contributes €10bn to Irish economyStudy: Dublin Airport contributes €10bn to Irish economy


Lifestyle

Jim Murray is a guitarist, originally from An Muine Fliuch, Co Cork.A Question of Taste: Jim Murray, Guitarist

A consultant said it’s not ‘trigger finger’ and is looking into other possible conditions.Natural health: 'My middle finger is stuck at a slight angle'

If you're a gardener who follows astrology, you may be interested to know your garden could perform better if you plan your gardening schedule according to the path of the moon.Tuning into the cycles of nature is all part of lunar gardening

More From The Irish Examiner