Shell hoping for better returns
Stable oil prices and higher gas revenues should drive up Shell’s fourth quarter earnings over the previous three months but the energy giant will still post a sharp decline in full-year earnings on Thursday.
Like BP, Shell has been hit by the uncertain economic conditions and weak refining margins which are forecast to leave annual pre-tax profits at 9.4 billion US dollars (€8.7bn), compared with 11.9 billion US dollars (€11bn) last time.
The exploration and production division should again account for the large majority of the profits with annual production growth of 9%, helped by the acquisition of UK independent company Enterprise Oil.
