Shell's profit surges as oil sector rebounds
Shell's shares up 2.6% at the market open, outperforming a 0.5% gain in London's FTSE 100 index
Add BT as a preferred sourceDeeperDive is a beta AI feature. Refer to full articles for the facts.
London
ROYAL Dutch Shell said that net profit more than doubled in the first quarter, joining its peers in beating analyst forecasts as rebounding oil prices and refining margins lifted revenue after a near three-year downturn.
A 55 per cent rise in oil prices from a year ago and deep cost cuts boosted cash generation, enabling the Anglo-Dutch company to cover spending and dividend payouts, while reducing debt following its US$54 billion acquisition of BG Group last year.
Share with us your feedback on BT's products and services
TRENDING NOW
Genting Singapore’s Lim Kok Thay receives S$7.5 million pay package for FY2025
Richard Eu on how core values, customers keep Singapore’s TCM chain Eu Yan Sang relevant
Mustafa Centre begins fit-out at JB’s Capital City Mall after 2-year delay
Vietnam formalises new state leadership, redefining ‘four pillars’ power balance
