Shell has announced higher than expected profits for the last quarter - boosting its coffers by over 12% more than analysts forecast.
The giant's adjusted earners were £4.64billion, down just over 3% from £4.79billion during the same period last year.
The figure blew the forecast £4.13billion number out of the water, with the success of Shell's integrated gas business in the third quarter offsetting falling oil prices and refining margins.
The Independent reports total production at Shell’s integrated gas business was 941,000 barrels of oil per day (boe/d), down on the last quarter but up 4.5% on the same period last year.
Chief executive Wael Sawan has been focusing on integrated gas and carried out a cost-cutting programme at the company, reducing its focus on renewables.
That included job cuts at two business units responsible for Shell’s exploration strategy and for developing its oil and gas finds.
FTSE 100
The UK's flagship share index, the FTSE 100, was up 6-points at 8,116 shortly after opening this morning.
Brent crude oil futures were up 0.17%, trading at $72.28 a barrel.
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Anheuser-Busch InBev* | Q3 Results |
Apple* | Q4 Results |
Coca-Cola HBC | Q3 Trading Statement |
Haleon* | Q3 Trading Statement |
Mastercard* | Q3 Results |
PPHE Hotel Group | Q3 Trading Statement |
Shell* | Q3 Results |
Smith & Nephew* | Q3 Trading Statement |
Spectris | Q3 Trading Statement |