Recovering oil prices mean Shell will bag a huge profit compared with last year’s (Source: Getty)
Courtney Goldsmith: 29 Jan 2017
Royal Dutch Shell’s annual profits are expected shoot up following last year’s dramatic 80 per cent decline as oil prices continue to inch up.
The oil giant is forecasted to post a profit of $8.17bn (£6.51bn), more than double its profit of $3.8bn the previous year, the Telegraph reported.
The Anglo-Dutch business is also expected to announce the latest development in its drive to ditch $30bn worth of assets following its £35bn takeover of BG Group. Shell is predicted to report the $3bn sale of its North Sea oil and gas assets – almost half of its total assets worth $7bn in the North Sea – to a private-equity-backed explorer.