Shell’s 1Q profit dips but beats expectations

Oil major Shell on Thursday reported $5.4 billion earnings on a CCS basis, excluding identified items for the first quarter of 2019. This is a two percent drop compared to the first quarter of 2018, but still, a better result than analysts expected.

Shell said the result reflected lower realized chemicals and refining margins, decreased realized oil prices and lower tax credits.

The oil major added this was partly offset by stronger contributions from trading as well as increased realized LNG and gas prices compared with the first quarter of 2018.

Continue reading

Leave a Reply

This site uses Akismet to reduce spam. Learn how your comment data is processed.