Shell Q2 profits up 5 pct on high oil prices
The world’s second-largest non-government controlled oil company by market value said in a statement on Thursday that the CCS result included a non-operating gain of $73 million.
Excluding such one-off items, the “clean” CCS or underlying result was $7.8 billion, compared to an average forecast of $8.3 billion in a Reuters poll of nine analysts and $6.90 billion in the same period of 2007.
CCS earnings strip out unrealised gains from rises in the value of inventories as oil prices increase and as such are comparable with U.S. net income. (Reporting by Tom Bergin; Editing by Paul Bolding)
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http://uk.reuters.com/article/rbssEnergyNews/idUKWLA726920080731
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