Like rival BP which reported a staggering 148% increase in third-quarter profits earlier this week -click here to read the details, Shell beat all forecasts with third-quarter current cost of supply (CCS) net profit up 71% at $10.9 billion (6.5 billion pounds) or if you like to play around with numbers, that comes to $119.7 million a day! Even though the world's second-largest non-government controlled oil company by market value saw only a 1% rise in third-quarter production at 3.44 million barrels a day, Shell sold its oil and gas for an amazing 66% more than it did in the same period last year. So, what else is new....
Thursday, October 30, 2008
Shell Pumps Out "Obscene" 71% Increase in Third-Quarter Profits
Like rival BP which reported a staggering 148% increase in third-quarter profits earlier this week -click here to read the details, Shell beat all forecasts with third-quarter current cost of supply (CCS) net profit up 71% at $10.9 billion (6.5 billion pounds) or if you like to play around with numbers, that comes to $119.7 million a day! Even though the world's second-largest non-government controlled oil company by market value saw only a 1% rise in third-quarter production at 3.44 million barrels a day, Shell sold its oil and gas for an amazing 66% more than it did in the same period last year. So, what else is new....
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