Shell Records Second Consecutive Record Quarterly Profit as Energy Prices Surged

Shell, Europe’s largest oil company reported stronger than expected second quarter results Thursday with $11.5 billion second-quarter profit smashing the mark it set only last quarter. Surging natural gas and oil prices and refining margins that roughly tripled in the second quarter, to $28 per barrel, the company said. The Oil Major reversed $4.3 billion in impairments it took early in the Covid-19 pandemic. Shell shares rose 1.8% in morning trading in London. The company’s decision to keep its quarterly … Continue reading “Shell Records Second Consecutive Record Quarterly Profit as Energy Prices Surged”

Shell Earnings Hit By Chemical Margins and Intergrated Gas Prices

Royal Dutch Shell, Europe’s largest oil company reported weaker than expected second quarter results Thursday. $RDS.A fell near 5%, their biggest one-day fall since January 2016. Shell’s integrated gas division performed the worst, earnings down 25% year on year.

How Much Oil In America’s Strategic Petroleum Reserve is Contaminated?

Countries around the world store oil for times of crisis and price bumps, the idea is store it and use it in emergency. What if that oil is not usable, if it is contaminated? Three buyers from the US Strategic Petroleum Reserve say just that, from oil bought last year from the SPR.