Shell Rakes In Highest Profits For 4 Years

Shell Rakes In Highest Profits For 4 Years

Anglo-Dutch energy giant Shell (Royal Dutch Shell) topped out profits int he 2018 final quarter, reporting a 36% rise above the previous year. Shares in the first oil and gas major to report fourth quarter and full-year results rose more than 4 per cent in early London trading. Annual profits rose to $21.7bn in 2018, a huge step from the $15.8bn net in 2017.

The international company reported in early 2018 how it was looking into cutting costs and reducing waste in order to up profits, and that's exactly what they're done. Shell also introduced their "Buy-Back" programme in early 2018 which is considered to have helped the company exceed profit expectations.

In 2018, Shell extracted and sold 2.8 million barrels of oil, a figure which put them 16% above rival company BP. Shell claim that they inspire to continue their efforts into 2019.

Gerrard Dowling
Author: Gerrard Dowling
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