Shell reports record profits for 2008, fall in last quarter

.

London  - Anglo-Dutch oil giant Royal Dutch Shell Thursday announced a 14-per-cent rise in 2008 annual profits to 31.4 billion dollars, a record in British corporate history.

The result was achieved on the back of record oil prices last summer, but in the last quarter of 2008, profits fell by 28 per cent compared with the same period in 2007.

Shell said profits in the last quarter, when the price for crude oil dropped sharply, were 4.8 billion dollars, compared with 6.7 billion dollars the year before.

The fourth-quarter profit was 56 per cent lower than the previous quarter.

Oil prices reached a high of 157 dollars a barrel in July 2008 before falling to below 50 dollars by the year end. (dpa)


Latest News

Retirement Plan is Necessary for All
Amazon's Third Quarter Loss a Set Back for Investors
Heart transplanted from dead patients to living patients conducted successfully
Menino halts cancer treatment, seeks palliative care
Uber offers flu shots requested by a single tap on mobile
Deafened mice hear after treatment, makes people hopeful
Shares of Coca-Cola Drop as Sales Remain Sluggish
Target Makes an Effort to Win Over Shoppers with Free Shipping
Agreement between Amazon.com and Simon & Schuster to be Advantageous for Both th
Nadella gets a Pay Package Worth $84M from Microsoft; Announces Help in Ebola Re
Slowest Growth in China since the 2008/9 Global Crisis
New Models of iPhone Helps Apple to Achieve a Record Profit