Lower gas and oil prices drive Shell earnings

Anglo-Dutch oil giant Shell booked net profit of $6.1bn in the third quarter of this year, compared with $7.2bn in the same quarter a year ago, based on the current cost of supplies.

Excluding one-off items such as tax changes and other factors, Shell’s profits were $6.6bn, down 6% on the same period last year.
‘Our earnings were driven by lower oil and gas prices, and lower chemicals margins, which offset the benefits of our operating performance, underlying growth in oil and gas production, and higher results in integrated gas and oil products,’ chief executive Peter Voser said in a statement.