{"id":9918,"date":"2011-02-07T00:00:37","date_gmt":"2011-02-06T23:00:37","guid":{"rendered":"http:\/\/www.transcend.org\/tms\/?p=9918"},"modified":"2011-02-04T01:13:03","modified_gmt":"2011-02-04T00:13:03","slug":"shell-annual-profits-double-to-18-6bn","status":"publish","type":"post","link":"https:\/\/www.transcend.org\/tms\/2011\/02\/shell-annual-profits-double-to-18-6bn\/","title":{"rendered":"Shell Annual Profits Double to $18.6bn"},"content":{"rendered":"

The oil giant Shell has reported profits almost doubled from $9.8bn to $18.6bn (\u00a311.5bn) for 2010, partly thanks to rising oil prices and output. <\/em><\/p>\n

Its chief executive, Peter Voser, said the company had made good progress and that there was “still more to come”.<\/p>\n

During the year, the company made $7bn of acquisitions and invested $3bn in exploration.<\/p>\n

For the final quarter Shell made profits of $5.7bn, compared with $1.2bn for the same period in 2009.<\/p>\n

Despite the strong gains, Shell’s shares fell 3%.<\/p>\n

Richard Hunter, head of equities at Hargreaves Lansdown Stockbrokers said shares had risen 27% over the past year and investors were taking profits: “Net income was well above expectations and a significant improvement on the previous year.”<\/p>\n

The fourth-quarter results are in line with rival BP, which earlier this week reported a profit of $4.6bn for that period, although the cost of sorting out the oil spill in the Gulf of Mexico left BP with an annual loss.<\/p>\n

Natural gas<\/p>\n

Shell’s results are reported on a current cost basis, which strips out fluctuations in the value of the oil stocks it has not sold.<\/p>\n

The price of US crude oil prices averaged about $85 a barrel in the fourth quarter, up from $76 in the fourth quarter of 2009.<\/p>\n

Brent crude this week hit $102 a barrel in London – its highest price since 2008.<\/p>\n

Shell said it planned at least $25bn in capital expenditure this year.<\/p>\n

The company now produces almost as much gas as oil, and the company is expecting gas output to outstrip oil in 2012.<\/p>\n

Go to Original \u2013 bbc.co.uk<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

The oil giant Shell has reported profits almost doubled from $9.8bn to $18.6bn (\u00a311.5bn) for 2010, partly thanks to rising oil prices and output.<\/p>\n","protected":false},"author":4,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[58],"tags":[],"class_list":["post-9918","post","type-post","status-publish","format-standard","hentry","category-news"],"_links":{"self":[{"href":"https:\/\/www.transcend.org\/tms\/wp-json\/wp\/v2\/posts\/9918","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.transcend.org\/tms\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.transcend.org\/tms\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.transcend.org\/tms\/wp-json\/wp\/v2\/users\/4"}],"replies":[{"embeddable":true,"href":"https:\/\/www.transcend.org\/tms\/wp-json\/wp\/v2\/comments?post=9918"}],"version-history":[{"count":0,"href":"https:\/\/www.transcend.org\/tms\/wp-json\/wp\/v2\/posts\/9918\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.transcend.org\/tms\/wp-json\/wp\/v2\/media?parent=9918"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.transcend.org\/tms\/wp-json\/wp\/v2\/categories?post=9918"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.transcend.org\/tms\/wp-json\/wp\/v2\/tags?post=9918"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}