Shell CEO Ben van Beurden
LONDON — Royal Dutch Shell more than tripled its profits in the second quarter to beat forecasts boosted by strong refining operations and a rise in oil prices.
The Anglo-Dutch oil and gas company also reported a huge recovery in cash flow to $12.2 billion and a drop in debt as its cost reduction efforts in recent years paid off. It has sold some $25 billion of assets since acquiring BG Group last year.
The strong results came despite a dip in oil and gas production versus the previous quarter as a result of reduced output from a facility in Qatar.
“The external price environment and energy sector developments mean we will remain very disciplined, with an absolute focus on the four levers within our control,” Chief Executive Ben van Beurden said.
Shell reiterated its plans to spend around $25 billion this year, at the lower end of its long-term range, as oil prices struggle to rise.
The rise in profits was driven mostly by refining and chemicals.
Cash flow in the first half of the year rose seven fold to $20.8 billion from a year earlier.
Oil and gas production in the second quarter declined to 3.495 million barrels of oil equivalent per day (boed) from 3.752 million boed in the first quarter.
Shell is one of the top three picks of analysts that cover global oil companies, together with Chevron and Total, Reuters data shows.
Its disposal programme over the past two years could further impact growth, however. Shell expects a 240,000 barrel-per-day year-on-year fall in third-quarter production due to divestments in Malaysia and Australia and the separation of its Motiva asset in the United States.
Shell said its debt pile stood at $78 billion, Its debt to equity ratio fell for a second consecutive quarter to 25.3 percent from a peak of 29.2 percent in the third quarter of 2016 that followed its $54 billion acquisition of BG Group.
(This version of the story corrects typo in headline)
(Reporting by Karolin Schaps and Ron Bousso; Editing by Edmund Blair and Jason Neely)
Royal Dutch Shell conspired directly with Hitler, financed the Nazi Party, was anti-Semitic and sold out its own Dutch Jewish employees to the Nazis. Shell had a close relationship with the Nazis during and after the reign of Sir Henri Deterding, an ardent Nazi, and the founder and decades long leader of the Royal Dutch Shell Group. His burial ceremony, which had all the trappings of a state funeral, was held at his private estate in Mecklenburg, Germany. The spectacle (photographs below) included a funeral procession led by a horse drawn funeral hearse with senior Nazis officials and senior Royal Dutch Shell directors in attendance, Nazi salutes at the graveside, swastika banners on display and wreaths and personal tributes from Adolf Hitler and Reichsmarschall, Hermann Goring. Deterding was an honored associate and supporter of Hitler and a personal friend of Goring.
Deterding was the guest of Hitler during a four day summit meeting at Berchtesgaden. Sir Henri and Hitler both had ambitions on Russian oil fields. Only an honored personal guest would be rewarded with a private four day meeting at Hitler’s mountain top retreat.
IN JULY 2007, MR BILL CAMPBELL (ABOVE, A RETIRED GROUP AUDITOR OF SHELL INTERNATIONAL SENT AN EMAIL TO EVERY UK MP AND MEMBER OF THE HOUSE OF LORDS: 
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A head-cut image of Alfred Donovan (now deceased) appears courtesy of The Wall Street Journal.
