Oil prices boost Shell’s results
Posted by admin on 31 July, 2008 under Business news | 
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Royal Dutch Shell has reported another increase in three-month profits thanks to rising oil prices.
April to June profits came in at $7.9bn (£4.0bn) on a current cost of supply basis, which is 4.6% up on the same period of 2007.
Shell said high oil and gas prices had made up for difficult conditions facing its petrol stations and refineries.
There was no mention of the effects of the four day strike by tanker drivers that disrupted supplies in June.
The drivers eventually accepted a 14% rise in pay over two years.
“Good operating performance, combined with increased oil and gas prices, offset the impact of weaker downstream conditions,” said Jeroen van der Veer, chief executive of Royal Dutch Shell.
Downstream trading includes activities such as marketing, petrol stations and refineries.
The Anglo-Dutch company is the world’s second largest publicly owned energy company by stock market value.
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