scorpi0x

CNA

Shell reports profits gush despite flagging output
Posted: 26 July 2007 1749 hrs

LONDON: Anglo-Dutch oil giant Royal Dutch Shell said Thursday that second-quarter net profits surged by about a fifth, despite a modest drop in output, as the group was boosted by strong global energy demand.

Net profits soared by 18.0 per cent to US$8.667 billion (6.319 billion euros) in the three months to June 30, compared with US$7.324 billion in the same period of the previous fiscal year, Shell said in an earnings release.

However, production fell by 2.0 per cent over the same period to 3.178 million barrels of oil equivalent per day.

"Second quarter 2007 production was impacted by lower demand in north west Europe as a consequence of the continued warm weather and lower production in Nigeria due to the security situation," Shell said in the release.

Ongoing unrest in Nigeria has slashed crude output from the country, which is the biggest crude producer on the African continent. Shell is the largest oil operator in Nigeria.

- AFP/yy

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mendy

T-lll
they did earn alots after all these years.
it's good to relax abit,
by earning a bit less for now.

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i love foods!!!

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:cry3:
make thou be choke by my ic, cards, wallet.