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General Forums => The O' Club => Topic started by: JB88 on May 02, 2005, 11:30:43 AM

Title: shell boasts 1.6b pounds per hr profit
Post by: JB88 on May 02, 2005, 11:30:43 AM

http://icliverpool.icnetwork.co.uk/business/news/tm_objectid=15458747&method=full&siteid=50061&headline=shell-profit-at--pound-1-6m-an-hour-name_page.html (http://icliverpool.icnetwork.co.uk/business/news/tm_objectid=15458747&method=full&siteid=50061&headline=shell-profit-at--pound-1-6m-an-hour-name_page.html)


Shell profit at £1.6m an hour

Apr 29 2005

Daily Post
 

SHELL yesterday reported an "excellent" first quarter with a strong financial performance across its businesses.

The oil giant, which reported the biggest annual profits in UK corporate history in February, said its income had risen by 42% to $6.7bn (£3.5bn) in the period.

Production for the quarter was at the higher end of expectations and exploration drilling results had been encouraging.

The company, which operates a giant refinery at Ellesmere Port, said its plans to merge its Dutch and UK parent companies into one after nearly 100 years of separate operations remained on schedule.

Chief executive Jeroen van der Veer said: "The first quarter was an excellent start of the year for Shell."

The income figure meant Shell made profits of about £1.6m an hour during the quarter.

On Tuesday, BP said it made record first quarter profits equating to £1.3m an hour.

Shell said earnings in its upstream division, which covers exploration and production before refining, increased despite lower production due to soaring oil prices.

The group produced 3.8bn barrels of oil equivalent per day in the quarter, compared with 4.1bn at the same time a year ago.

Title: shell boasts 1.6b pounds per hr profit
Post by: NUKE on May 02, 2005, 11:32:25 AM

Wow, that's pretty cool. They must be doing something right at Shell, good for them.

Title: shell boasts 1.6b pounds per hr profit
Post by: Chairboy on May 02, 2005, 11:51:59 AM

Very nice.

Title: shell boasts 1.6b pounds per hr profit
Post by: Krusher on May 02, 2005, 11:59:17 AM

I thought about buying BP, but put my money in Exxon instead.  Shell has a bad habit of overstating their oil reserves so they make me nervous.

Title: shell boasts 1.6b pounds per hr profit
Post by: parker00 on May 02, 2005, 12:35:04 PM

and why is that gas prices are so high, oh yeah supply is low and demand is high. :rolleyes:





68Parker

Title: shell boasts 1.6b pounds per hr profit
Post by: Chairboy on May 02, 2005, 12:56:39 PM

Four replies before we got a hit!  

Today's test of the commie-pinko liberal detection system has been completed.  You may now return to your regularilly scheduled threads.

Title: shell boasts 1.6b pounds per hr profit
Post by: john9001 on May 02, 2005, 02:35:09 PM

companys that make a profit are evil, they should all lose money like enron, oh wait, thats evil also.

ok , all companys are evil.

Title: shell boasts 1.6b pounds per hr profit
Post by: J_A_B on May 03, 2005, 03:00:01 PM

"ok , all companys are evil."

Change "company" to "corporation", and change "evil" to "rampantly greedy", and then you have a pretty accurate statement.


J_A_B

Title: shell boasts 1.6b pounds per hr profit
Post by: Urchin on May 03, 2005, 04:37:35 PM

Well, I'm about as red as they come on this board, and all that really says to me is that there is more oil consumption than ever before, thus more profits... it makes perfect sense.  

Now, if you had said that they recorded a record profit margin, I'd become a little suspicious.