Shell books record profit

2nd February 2006, Comments 0 comments

2 February 2006, AMSTERDAM — Anglo-Dutch oil giant posted profits of USD 5.4 billion (EUR 4.46 billion) in the fourth quarter of 2005. This brings its total profit for the year to USD 22.9 billion (EUR 18.9 billion).

2 February 2006

AMSTERDAM — Anglo-Dutch oil giant posted profits of USD 5.4 billion (EUR 4.46 billion) in the fourth quarter of 2005. This brings its total profit for the year to USD 22.9 billion (EUR 18.9 billion).

This is the highest annual profit for a company in Dutch business history. In 2004, Shell achieved a record of USD 17.6 billion.

The quarterly profit, which does not include one-off stock effects, is slightly higher than analysts had expected. The average figure market watchers expected was USD 5.385 billion. Last year the Shell posted USD 5.22 billion in the fourth quarter.

The result was buoyed by the continuing high price of oil. Daily production and gas in the last three months of 2005 fell to 3.5 million barrels compared with 3.8 million barrels a year before.

Some of this decline was due to the hurricanes in the Gulf of Mexico.

[Copyright Expatica News + ANP 2006]

Subject: Dutch news

 

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