Shell Maintains Billion Dollar Profit Despite Lower Oil Price

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Shell sold its oil at a significantly lower price last quarter than in previous months, but its profit remained unchanged.

 

Unlike industry peer BP, which announced earlier this week that it would only retain a fraction of its billion-dollar profit, London-based Shell made about the same profit as a quarter earlier and the same period last year. At that time, oil prices were significantly higher.
Better sales of liquefied natural gas (LNG), among other things, helped Shell maintain income. The oil and gas company also suffered less from one-off costs, such as depreciation and reorganization.
Operating profit from July to September amounted to $6 billion. That was much more than expected and only slightly less than the $6.3 billion in the previous quarter and the $6.2 billion a year earlier.
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