Oil and gas giant Royal Dutch Shell has announced its quarterly profits for Q2 2018, exhibiting a 30% rise in net profit, year on year. According to CNBC, the Netherlands-based company which has subsidiaries across the globe calculated its net profit attributable to shareholders on a CCS (current cost of supplies) basis and found the figure to reach $4.69bn, with the same quarter a year ago having reported a profit of $3.6bn
Shell has attributed the rise in profit primarily to its Integrated Gas and Upstream segments. It has also announced a $25bn share buyback programme, an offer to buy shares from investors which usually happens if accompany feels its shares are undervalued and wishes to reduce the number of outstanding shares.
Ben van Beurden, CEO of Shell, reportedly said of the buyback: “This move complements the progress we have made since the completion of the BG (British Gas) acquisition in 2016, to reshape our portfolio through a $30bn divestment program and new projects, to reduce net debt and to turn off the scrip dividend.
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Our professionals have a specific business knowledge and extensive experience in the field of audit and assurance. We believe that it is essential to invest in the ongoing training of our professionals.
Optimizing increasingly complex oil and gas operations is more crucial than ever. Connecting real-time and long-term planning data
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