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Shell profits hit just under £8bn
Jul 31 2008 LDP Business
ROYAL Dutch Shell racked up profits of almost £8 billion during the first six months of this year, results from the Anglo-Dutch firm showed today.
The company posted earnings of 15.68 billion US dollars (£7.92bn) for the half-year, with the period from April to June up 5% at 7.9 billion US dollars (£3.99bn).
Shell said increased oil and gas prices offset the impact of weaker trading conditions in its downstream refining and marketing business
Today's figures came in below City expectations for a second quarter figure of around 8.3 billion US dollars (£4.2bn).
As with BP, Shell posted a sharp rise in exploration and production profits - from 3.1 billion US dollars in last year’s second quarter to 5.88 billion US dollars (£2.97bn) this time.
Both sets of figures are certain to infuriate hauliers while millions of motorists also feel pain from rising forecourt prices.
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