Profit Drop Shell less than expected – Financieele Dagblad (Registration)

Shell has made a profit in the first quarter of 2015 of $ 3.25 billion, 56% less compared with the same period a year earlier. The profit decline was much less than expected. Analysts consulted by Bloomberg actual average rate on a cleaned profit based on current inventory costs (ccs) and excluding items of $ 2.48 billion.

Shell, like other oil companies suffer from low oil prices. A barrel of oil released in the first three months of this year, but $ 54 on average, while the price in the same period a year ago was $ 108.

The energy company sets for the first quarter as expected a dividend of $ 0.47 per share, unchanged from the same period last year

Shell CEO Ben van Beurden says in a press release that the results” reflect the power of the integrated activities, against a background of lower oil prices. According to van Beurden remains a sharper focus on results centrally bottom line Shell are the future, including through the continued sale of non-strategic

refining

With the pumping of oil and gas (upstream ) Shell earned in the first three months of this year 88% less at $ 675 million, while the company’s refining side just booked profits. This is because the prices of motor fuels fell less sharply than the prices of oil, making more Shell has kept on making fuels. The profit increased in the refining division of Shell by 68% to $ 2.646 billion.

The total oil and gas production amounted to 3,166 million barrels of oil equivalent per day, which represents a decrease of 2% compared with the first three months of last

year. Analysts kept average about 3.08 million barrels.

LNG

Shell sold the first quarter, 6.17 million tons of LNG (liquefied natural gas), an increase of 1% compared to the first three months of last year. LNG is one of the two strategic growth segments for the group. Earlier this month, Shell announced the British BG to want to take over for € 64 billion, which the company further strengthened its LNG activities. Shell is the largest LNG producer in the world.

Repel

Shell took this year to date $ 2.2 billion on the divestment of units, such as onshore activities in Nigeria. Investments in the first quarter were at $ 6.8 billion. For the whole of 2015, Shell expects to invest $ 33 bln. That is $ 2 billion less than the company had previously indicated. This reflects to Shell dynamism in investment decisions in growth projects. “

Cash flow from operations of Shell halved in the first quarter to almost $ 7.1 billion, compared with $ 14 billion in the first quarter of 2014. Shell had late March $ 19.9 billion in cash.

The net profit attributable to shareholders came in at $ 4.43 billion, a decrease of 2% compared to last year.

On a lower Damrak Shell noted Thursday morning about 1.5% higher.