GO
Loading...

Enter multiple symbols separated by commas

Shell Fourth-Quarter Profit Up, Strong Reserves

Royal Dutch Shell reported a 2.6% rise in underlying quarterly profits Thursday, better than analysts' forecasts, boosted by higher production and strong oil prices.

The underlying result for the fourth quarter was $5.5 billion, excluding non-operating items, which is above an average the $5.216 billion forecast by 10 analysts in a Reuters poll.

Fourth-quarter current cost of supply (CCS) net profit, which is calculated without changes in the value of inventory, was $6 billion, helped by profits from selling oil and gas fields.

For 2006, CCS profit was $25.4 billion, up 12%.

“Shell has been reporting better-than-expected results for seven consecutive quarters and it hasn’t done so much for the share price,” Herman Bots, an analyst at Theodoor Gilissen Bankiers, told “Squawk Box Europe." “So I don’t think it’s a real issue for investors.”

Contact U.S. News

  • CNBC NEWSLETTERS

    Get the best of CNBC in your inbox

    Please choose a subscription

    Please enter a valid email address
    To learn more about how we use your information,
    please read our Privacy Policy.

Don't Miss

U.S. Video

  • Hero miles for military members: Real estate magnate's plea

    Chairman of the Fisher House Foundation, Ken Fisher, discusses the Hero Miles program with CNBC's Dina Gusovsky. During Military Appreciation Month, Fisher is asking every traveler to donate 1,000 of their miles to replenish the Hero Miles programs that is in danger of running out.

  • Cramer shuts down this market's haters

    "Mad Money" host Jim Cramer on why this market can't stop, won't stop.

  • From the battlefield to the boardroom

    Your Grateful Nation is dedicated to helping Special Forces veterans enter the corporate world and Knot Standard provides complimentary suits to vets. Mad Money's Jim Cramer spoke with Rob Clapper, Your Grateful executive director; John Ballay, Knot Standard co-founder and president; Tej Gill, retired U.S. Navy Seal; and Darren McB, active duty U.S. Navy Seal.