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Shell says quarterly net profit rebounds to US$1.4b

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Energy major Royal Dutch Shell announced on Tuesday that it rebounded into the black in the third quarter, aided by rising output and write-offs that were not repeated.

[LONDON] Energy major Royal Dutch Shell announced on Tuesday that it rebounded into the black in the third quarter, aided by rising output and write-offs that were not repeated.

Earnings after taxation hit US$1.4 billion in the three months to September, against a net loss of US$7.4 billion last year, when it was rocked by vast write-downs after scrapping projects in Alaska and Canada.

Chief Executive Ben van Beurden cautioned however that ultra-low oil prices continued to be a "significant challenge" across the business and sparked an "uncertain" outlook for the London-listed group.

AFP

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