Shell posts more bumper profits on high energy prices
British energy giant Shell on Thursday announced net profit totalling $6.7 billion in the third quarter, as oil and gas prices remain strong despite recent slides on easing supply fears.
The result compared with a loss after tax of $447 million in the July-September period last year, Shell said.
Flush with cash from revenue surging to almost $100 billion, Shell said it would buy back shares at a cost of $4 billion.
"We are delivering robust results at a time of ongoing volatility in global energy markets," said Shell's outgoing chief executive Ben van Beurden.