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

Professor writes ‘prank’ physics paper using iOS autocomplete
Twitter plans to shrink its workforce by about 8%
Elon Musk talks about SpaceX’s plans to test ITS’ huge fuel tank at sea
Hackers cut access to some of the world's best known websites on Friday
Dinosaur bones found in Alaska’s Denali National Park
Californians to vote on marijuana legalization measure next month
Microsoft posts $20.5B revenue for July-September 2016 quarter
Tesla is equipping its vehicles with hardware required to make them fully self-d
Orbital’s Antares rocket returns to flight with successful cargo launch
Twitter Would Need New Strategy for Growth as Salesforce Walks Out of Deal
Verizon versions of Google Pixel will get all updates “simultaneously” with non-
Samsung Galaxy Note 7 handsets banned from airline flights in US