Royal Dutch Shell reported an adjusted profit of $4.13 billion in the third quarter of 2021 down from $5.53 billion in the second quarter, according to its financial results statement released Thursday.
The company said that earnings impacted by Hurricane Ida as well as lower spreads in both base and intermediate product lines resulting in lower margins.
Shell said that it will distribute $7 billion to its shareholders from next year after a $9.5 billion deal to sell its U.S. Permian assets to ConocoPhillips close.
'We announced our intention to distribute $7 billion to our shareholders from the sale of our Permian assets. Today, we also set a new 2030 target to halve the absolute emissions
from our operations, compared to 2016 levels on a net basis,' said the company's CEO, Ben Van Beurden.
By Murat Temizer