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Royal Dutch Shell’s earnings more than triple in 2Q

July 28, 2017

Royal Dutch Shell says second-quarter earnings more than tripled as it benefited from a cost-cutting drive and recovering oil prices.

The Anglo-Dutch energy giant said Thursday that profit adjusted for changes in the value of inventories and excluding one-time items rose to $3.60 billion from $1.05 billion in the same period last year. Net income rose 31 percent to $1.55 billion.

CEO Ben van Beurden says the earnings reflect Shell’s restructuring to cope with lower oil prices and the purchase of natural gas producer BG Group.

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