Royal Dutch Shell plc has released its third quarter results and third quarter interim dividend.
Compared with the third quarter 2016, CCS earnings attributable to shareholders excluding identified items increased to US$4.1 billion, reflecting higher contributions from Downstream, Upstream and Integrated Gas. Earnings benefited mainly from stronger refining and chemicals industry conditions, increased realised oil and gas prices and higher production from new fields, offsetting the impact of field declines and divestments.
Cash flow from operating activities for the third quarter 2017 of US$7.6 billion included negative working capital movements of US$2.5 billion, mainly due to increases in inventory value and current receivables, compared with favourable working capital movements of US$0.7 billion in the third quarter 2016. Excluding working capital effects, cash flow from operations was US$10.1 billion.
Total dividends distributed to shareholders in the quarter were US$4.0 billion, of which US$0.9 billion were settled by issuing 33.8 million A shares under the Scrip Dividend Programme.
Royal Dutch Shell CEO Ben van Beurden commented, “Shell’s three businesses all made resilient contributions to this strong set of results. Upstream generated almost half of the US$10 billion cash flow from operations excluding working capital this quarter, at an average Brent oil price of US$52 per barrel, and this was complemented by good cash contributions from our growing Integrated Gas business and from Downstream. This competitive performance is further evidence of Shell’s growing momentum, and strengthens my firm belief that our strategy is working.”
Read the article online at: https://www.lngindustry.com/liquid-natural-gas/02112017/shell-release-third-quarter-results-for-2017/