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.