Shell has produced a stunning financial performance over the second quarter of the year with profits soaring by 20% to $7.6bn (£3.7bn) on the back of very high refining margins and despite a fall in production.
The record results – amounting to some £1.5m an hour – underlined Shell's current supremacy over arch-rival BP which barely lifted its profits when measured on the same basis.
They also outpaced US oil giant Exxon Mobil, which caught Wall St on the hop this afternoon with a fall in its quarterly profits instead of the expected rise. At $10.3bn, Exxon's profits remain comfortably ahead of Shell's, however. MagazineLane.com
The record results – amounting to some £1.5m an hour – underlined Shell's current supremacy over arch-rival BP which barely lifted its profits when measured on the same basis.
They also outpaced US oil giant Exxon Mobil, which caught Wall St on the hop this afternoon with a fall in its quarterly profits instead of the expected rise. At $10.3bn, Exxon's profits remain comfortably ahead of Shell's, however. MagazineLane.com
