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02/02/2006
Shell reports biggest ever UK profits
Oil company Royal Dutch Shell have reported the largest ever profits recorded for a UK-listed firm.
The firm reported earnings of $22.94 billion (£12.96 billion) - the equivalent of nearly £1.5 million every hour.
The figures were up almost a third on last year's profit of $17.9 billion (£9.8 billion).
The results come after a year which saw the price of crude oil rise from $45 a barrel to a record high of $70, in the wake of Hurricane Katrina.
Most of Shell's profits come from extracting oil and gas from the ground and this division was boosted because of the rising oil costs due to the bad hurricane season in the Gulf of Mexico, as well as political tensions in a number of oil producing countries.
However, the hurricanes affected production at Shell, with output falling to 3.5 million during the last quarter.
Jeroen van der Veer, Shell's Chief Executive, said: "Our good performance in the fourth quarter 2005 gives us a solid platform to build on in 2006."
Shell's results come after Texas-based oil company Exxon Mobile announced profits of $33.86 billion (£19.2 billion) last year, the largest in corporate history.
Shell's UK rival, BP, is due to report their full year profits next week.
(KMcA)
The firm reported earnings of $22.94 billion (£12.96 billion) - the equivalent of nearly £1.5 million every hour.
The figures were up almost a third on last year's profit of $17.9 billion (£9.8 billion).
The results come after a year which saw the price of crude oil rise from $45 a barrel to a record high of $70, in the wake of Hurricane Katrina.
Most of Shell's profits come from extracting oil and gas from the ground and this division was boosted because of the rising oil costs due to the bad hurricane season in the Gulf of Mexico, as well as political tensions in a number of oil producing countries.
However, the hurricanes affected production at Shell, with output falling to 3.5 million during the last quarter.
Jeroen van der Veer, Shell's Chief Executive, said: "Our good performance in the fourth quarter 2005 gives us a solid platform to build on in 2006."
Shell's results come after Texas-based oil company Exxon Mobile announced profits of $33.86 billion (£19.2 billion) last year, the largest in corporate history.
Shell's UK rival, BP, is due to report their full year profits next week.
(KMcA)
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Shell Profits Record Angers Stakeholders
Anglo-Dutch oil firm Royal Dutch Shell has reported record annual profits of $27.56bn (£13.9bn). The record figures have made British corporate history, which are equivalent to more than £1.5m an hour and come at the end of a three-month period when crude prices have averaged over $90 a barrel.
Shell Profits Record Angers Stakeholders
Anglo-Dutch oil firm Royal Dutch Shell has reported record annual profits of $27.56bn (£13.9bn). The record figures have made British corporate history, which are equivalent to more than £1.5m an hour and come at the end of a three-month period when crude prices have averaged over $90 a barrel.
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Shell Wants Scotland In The UK
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28 April 2004
Shell announce 2,800 technology job cuts
Royal Dutch Shell have announced that it is to cut 2,800 jobs in its technology division over the next three years. The world’s third largest oil firm said that the job losses were unrelated to the firm’s recent problems over how it accounted for its proven oil reserves. The division affected has sites in Britain, the Netherlands and the US.
Shell announce 2,800 technology job cuts
Royal Dutch Shell have announced that it is to cut 2,800 jobs in its technology division over the next three years. The world’s third largest oil firm said that the job losses were unrelated to the firm’s recent problems over how it accounted for its proven oil reserves. The division affected has sites in Britain, the Netherlands and the US.
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