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Shell’s Investments in the Santos Basin and the Gulf of Mexico Resulted in Profit

Escrito por Paulo Nogueira
Publicado em 01/11/2018 às 07:35
Shell, vagas, emprego, rio de janeiro, petróleo
Shell, vagas, emprego, rio de janeiro, petróleo
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The Quarterly Balance of 2018 Has Just Been Released by Shell with Profits Surpassing Double the Same Period Last Year, Thanks to New Investments in Brazil Mainly.

Royal Dutch Shell Announced Third Quarter Profits That Increased by More Than 35% Compared to the Previous Year, Supported by High Oil Prices and Its Gas Marketing Division, But This Still Fell Below Analysts’ Expectations. The Anglo-Dutch Energy Division Said That Its Earnings Based on Current Cost of Supply – a Metric Closely Monitored by Analysts – and Adjusted for Exceptional Items, Reached US $ 5.6 Billion in the Three Months Ended September 30, Up From US $ 4.1 Billion in the Same Quarter a Year Ago.

This Fell Short of Analysts’ Consensus Forecast of Just Over US $ 5.7 Billion.

The Higher Profits Were Partially Offset by Downstream Businesses, Which Include Refining, Marketing, and Chemicals, That Saw Smaller Margins, Weaker Trading Results, and Higher Tax Rates. In the Exploration and Production Division, There Were Also Higher Deferred Tax Charges and Currency Effects.

Since the Oil Price Crash in 2014, the Company Has Focused on Cost Reduction, Cutting Spending, and Selling Nearly US $ 30 Billion in Assets to Reduce Its Debt.

As Cash Flows and Profits Improved After Several Years of Energy Slowdown, Shell Announced in July the Launch of a US $ 25 Billion Share Buyback Program Promised After Acquiring BG Group.

Shell, Which Said It Would Buy Up to US $ 2 Billion in A or B Shares Every Three Months Until 2020, Depending on Changes in Oil Prices and Debt Reduction, Launched a Second Tranche This Thursday Saying It Would Repurchase Up to US $ 2.5 Billion by the End of January.

Energy Sector Analysts Expect Major Energy Companies to Reap the Rewards of Higher Oil Prices, Along With Disciplined Spending Plans, With Their Peers, Including BP, Total, and Eni Reporting Profits Last Week.

Shell Reported Operating Cash Flow, Adjusted for Working Capital, at Over US $ 12 Billion, Compared to US $ 7.6 Billion a Year Ago.

The Company’s CEO, Ben van Beurden, Stated in a Release: “Our Strong Financial Performance Has Allowed Us to Cover Cash Dividends, Interest Payments, Share Buybacks, and Still Pay Down Debt.”

Shell Reported Capital Expenditures in the Third Quarter Totaling US $ 5.8 Billion, Compared to US $ 5.7 Billion in the Same Period Last Year.

The Company, Which Has Shifted Its Business Away from Oil Amid the Global Shift to Cleaner Fuels, Approved Last Month a Massive US $ 12 Billion Investment in a Liquefied Natural Gas Project to Ship Super-Cooled Fuel from Canada to China.


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Paulo Nogueira

Eletrotécnica formado em umas das instituições de ensino técnico do país, o Instituto Federal Fluminense - IFF ( Antigo CEFET), atuei diversos anos na áreas de petróleo e gás offshore, energia e construção. Hoje com mais de 8 mil publicações em revistas e blogs online sobre o setor de energia, o foco é prover informações em tempo real do mercado de empregabilidade do Brasil, macro e micro economia e empreendedorismo. Para dúvidas, sugestões e correções, entre em contato no e-mail informe@en.clickpetroleoegas.com.br. Vale lembrar que não aceitamos currículos neste contato.

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