Shell’s current-cost-of-supplies earnings, excluding identified items, increased by 136% year on year in Q1 2017, to $3.8 billion. The results beat analysts’ expectations of $3.1 billion.
Jessica Uhl, Shell’s chief financial officer, said the figure was the result of “good performance across the board”, as well as higher oil prices.
Chief Executive Ben van Beurden has said the company will invest around $25 billion this year and generate $10 billion in cash flow from operating activities by 2018.
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