Shell boosted by cost cutting, divestments, higher prices

Oil giant Shell benefited from higher production and prices, cost cutting and divestments in the third quarter, booking Q3 net profit up 7% to $3.5bn.


‘Our results have rebounded substantially from year-ago levels, driven by some improvement in industry conditions and Shell’s strategy,’ said CEO Peter Voser in a statement.
‘We are making good progress against our targets, and there is more to come from Shell,’ Voser concluded.
The company is planning to sell more non-core refining and High Street outlets in Europe and Africa over the next year.

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