The majors have seen LNG demand growth in the Middle East, India and China. (Shell)
Healthy LNG demand combined with effective cost-cutting programmes contributed to better-than-expected Q3 results for Europe’s major oil and gas players.
Shell posted earnings on a current-cost-of-supplies (CCS) basis of $1.4 billion in Q3 2016, after a loss of $6.1 billion in Q3 2015. Higher production resulting from the acquisition of BG Group and lower operating costs helped support earnings. The performance impressed analysts; Matthew Beesley, head of global equities at Henderson Global Investors, described the figures as "tremendous".
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