NewsExpress advert Yudala 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: 433


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

Loss Off Your Belly Fats, Upper Arm Fat and Body Fats In 2weeks Time.. Click HERE To Start Now!

Let us build the most comprehensive online database of worthy and credible Nigerians from all walks of life. It is worth doing!

 

You may also like...
Shell JV empowers 80 Niger Delta women

Ford unleashes all-new compact Figo

Air Force bombers blast Boko Haram’s bunkers

Uduaghan, Oritsejafor predict brighter future for Delta State...

Traditional rulers, business groups allege atrocities by Abia...

Suspected suicide bomber says she’s one of the...

500,000 mercenaries to vote in Aug. 9 Osun...

Indictments against Magu extensively damaging: HURIWA

Okorocha a liar with empty dreams: Ekweremadu

RIGHTSView: POLITICIAN AND STATESMAN: ANY MEETING POINT?

Buhari not dead — Presidency

Lawmaker to governors: Focus on citizens, not NGF...

 

Latest News UN staff serve strike notice Tinubu fingered in alleged plot to kill APC Troops nab herdsman with bullet-proof vest FG confirms 110 Dapchi schoolgirls missing, steps up rescue efforts FRSC rescues pregnant woman from suspected kidnappers China’s ruling party plots constitution change, 3rd term for Presidency Xi Jinping Corruption index: Nigeria’s poor ranking a wake-up call for Buhari administration — SERAP Boko Haram attacks Madagali (Adamawa) 35 times in 10 months •Kills 27, destroys over 100 houses Muslim scholars urge ‘uprising’ over US’ Jerusalem embassy move 297,000 vulnerable households get FG’s stipends in 20 states Army postpones 77 Regular Recruitment — Spokesman Jesus’s burial site shut in protest

 

Most Read Nigerian female sex addict opens up, says ‘I like it with both men and women’ (327,161 views) NUDE PHOTO OF OMOTOLA JALADE-EKEINDE surfaces online (319,386 views) Shameless Genevieve Nnaji exposes breasts in public (255,897 views) Finally named: The full list of friends of Nigerian female sex addict who prowled Facebook (209,912 views) Igbo scholar disgraces Femi Fani-Kayode •Demolishes claims on Igbo/Yoruba history with facts and figures (195,271 views) OLUMBA OLUMBA OBU (the one who called himself God) IS DEAD (188,447 views) Breaking News: POPULAR REVEREND CONVERTS TO ISLAM in Kaduna (Nigeria) (164,120 views) OBJ’s son reported dead in Lagos plane crash •Names of more victims emerge (147,468 views) THE FINAL DISGRACE: Igbo scholar unleashes more facts about Igbo/Yoruba history, finishes off Femi Fani-Kayode with second article (140,864 views) Lagos plane crash: Journalist releases victims’ names (130,190 views) My wasted years in Olumba Olumba Obu’s Evil Brotherhood (128,890 views) Gunmen kill ASP, 2 other police officers in vain bid to kidnap Rivers PDP chieftain (123,648 views)

 

Categories Advertorials (3) African Press Organisation (81) Art & Literature (34) Business (2,912) Business Verdict (34) Columnists (806) Complaints & Requests (94) Enterprise & Opportunities (203) Entertainment (447) Features (549) Global Business Monitor (226) International (1,809) Interviews (143) Live Commentary (28) Love Matters (106) News (33,120) Opinion (885) Pidgin (10) Politics (4,525) Religion (687) Sports (1,442) Stock Watch (28) AMA & Al Jazeera Global Update

 

 

Football president George Weah puts Liberian army to the test

 

APO Group Partner

 

CLASSIFIED ADS

Loss Off Your Belly Fats, Upper Arm Fat and Body Fats In 2weeks Time.. Click HERE To Start Now!

Let us build the most comprehensive online database of worthy and credible Nigerians from all walks of life. It is worth doing!

GOCOP Accredited Member

GOCOP Accredited member

 

 

Africa Media Agency and Al Jazeera

Advertisement