Fidelity bank banner Bayelsa State banner
Shell earnings expected to hit £11bn after oil prices recover

By Jillian Ambrose on 29/01/2018

Share on facebook Yahoo mail icon Gmail icon Share on Google+

Views: 724


Royal Dutch Shell is set to unveil its highest earnings since the oil market collapse this week, just one year after the oil major’s lowest profits in more than a decade.

The Anglo-Dutch oil group’s efforts to overhaul its portfolio during the depths of the oil market rout are expected to be turbo-charged by the recovery in oil prices to over $65 a barrel last year, from under $30 a barrel at their lowest point in early 2016.

Analysts predict the group’s earnings on a “current cost of supply” basis will be more than $15.7bn (£11bn) for 2017 from just $3.5bn (£2.5bn) the year before. The final quarter of last year is expected to generate higher earnings than the whole of 2016 at $4.2bn (£3bn), according to analyst consensus forecasts.

The startling turnaround from Shell’s disappointing 2016 results, which were even lower than in 2015, comes in the wake of a diligent focus on financial discipline following the mega-deal to take over BG Group, the gas giant, at the depths of the market rout.

Shell has also completed the majority of its $30bn (£21bn) programme to sell-off oil assets which are peripheral to the business. Shell’s oil major peers are also expected to reveal a cash flow boom in the coming weeks.

Jason Gammel of Jefferies told investors to “put on their rally caps” as the higher earnings flow through the shareholders, many of whom have patiently accepted company shares in lieu of dividend payouts.

Shell said in November that it would begin to buy back at least $25bn (£18bn) worth of shares, but analysts at JP Morgan have predicted this could rise to $27.5bn (£20bn), buoyed by higher flows of cash back into the business. (The Telegraph)

Source News Express

Posted 29/01/2018 11:07:35 AM

 

Share on facebook Yahoo mail icon Gmail icon Share on Google+


 

CLASSIFIED ADS

 

You may also like...
Islamic Coalition: Christian Elders warn Buhari, demand immediate...

FCT NUT demands burial allowances for teachers

Amosun allocates 1,050 shops in Ogun ultra modern...

1,800 buildings to be demolished in Aba as...

Issues seeking attention as the nation celebrates, By...

Minister indicts Buhari over failed Edo water project,...

Insecurity: Sani-Bello charges public office holders to partner...

Lagos commences implementation of child protection policy

OGONI STILL BLEEDING

Aviation Minister dismisses reports, denies being anti-North

Ejike Uzoenyi rules South Africa 2014, emerges CHAN...

Ayade to punish perm secs, directors for lateness...

 

Latest News Osun Election: Controversy as INEC official says his boss ordered him to destroy authentic poll result Double Tragedy: Ras Kimono’s wife dies three weeks after his burial Kogi LG workers now to receive 54 pct of salary Water projects: Minister pleads with court for more time to render account PDP screens 30 governorship aspirants in North East Anti-Corruption War: Strike weakens CCB, CCT Gunshot at Osun INEC office Flood overruns more Delta riverine communities, victims sleep in canoes PDP is party to beat in 2018, says Makarfi Aisha Buhari to address UN meeting on Tuberculosis Osun: INEC has shown its readiness for 2019 — Group Plateau SSG, commissioner resign to contest 2019 elections

 

Most Read NUDE PHOTO OF OMOTOLA JALADE-EKEINDE surfaces online (396,496 views) Nigerian female sex addict opens up, says ‘I like it with both men and women’ (376,754 views) Shameless Genevieve Nnaji exposes breasts in public (308,508 views) Finally named: The full list of friends of Nigerian female sex addict who prowled Facebook (250,604 views) OLUMBA OLUMBA OBU (the one who called himself God) IS DEAD (232,325 views) Igbo scholar disgraces Femi Fani-Kayode •Demolishes claims on Igbo/Yoruba history with facts and figures (221,634 views) Breaking News: POPULAR REVEREND CONVERTS TO ISLAM in Kaduna (Nigeria) (200,074 views) OBJ’s son reported dead in Lagos plane crash •Names of more victims emerge (181,663 views) My wasted years in Olumba Olumba Obu’s Evil Brotherhood (165,720 views) THE FINAL DISGRACE: Igbo scholar unleashes more facts about Igbo/Yoruba history, finishes off Femi Fani-Kayode with second article (163,386 views) Lagos plane crash: Journalist releases victims’ names (158,163 views) Gunmen kill ASP, 2 other police officers in vain bid to kidnap Rivers PDP chieftain (146,908 views)

 

Categories Advertorials (3) African Press Organisation (81) Art & Literature (63) Business & Economy (3,623) Business Verdict (52) Columnists (933) Complaints & Requests (94) Enterprise & Opportunities (207) Entertainment (547) Features (652) Global Business Monitor (301) International (2,427) Interview (165) Live Commentary (28) Love Matters (144) News (39,082) Opinion (1,110) Pidgin (11) Politics (6,711) Religion (872) Sports (1,701) Stock Watch (34) AMA & Al Jazeera Global Update

 

CBN banner

Firstmobile banner

 

 

NEWS EXPRESS TV

I am Imo State's New Governor -- Okorocha's son-in-law Uche Nwosu...

 

APO Group Partner

 

 

CLASSIFIED ADS

GOCOP Accredited Member

GOCOP Accredited member

 

 

Africa Media Agency and Al Jazeera

Advertisement