Royal Dutch Shell’s earnings in the last quarter of 2017 totaled approximately $3 billion, registering a rise of 199 percent from the same period of 2016, the company announced on Thursday.
Earnings were around $1 billion in the last quarter of 2016.
The full year earnings of the company also increased by 242 percent to $12 billion, compared with $3.5 billion in 2016.
'Full year earnings benefited mainly from higher realized oil, gas and LNG prices, improved refining performance and higher production from new fields, which offset the impact of field declines and divestments,' the company noted.
Shell delivered $7.3 billion in cash flow from operations in the fourth quarter of 2017, compared with $9.2 billion in the fourth quarter of 2016.
In 2017, full year cash flow from operating activities was $35.6 billion, compared with $20.5 billion for the full year of 2016.
“2017 was a year of strong financial performance for Shell. A year of transformation, in which we showed we have what it takes to deliver a world-class investment case,” CEO Ben van Beurden said.
By Firdevs Yuksel