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

Kidney deaths at hospitals can be avoided
Movement makes some people feel sick
ADHD kids suffer language problems
‘Fit mother’ brand is not easy today
Apple releases new video to highlight its focus on environment and resource cons
Yale University professor claims Apple patents worth only $38 million, not billi
AT&T plans to expand its fiber optics service
Nokia, Microsoft deal likely to be finalized by April 25
Netflix opposes Comcast-TWC merger
Airbnb permanently removing over 2,000 New York listings which could be illegal
FDA Proposal Could Result in Increased Prices of Beer
Patients spend more for free drug samples from doctors