Shell saw third quarter earnings benefit from increased realised oil, gas and LNG prices. The company reported an increase in earnings 39 percent to $5.6bn, compared with $4.1bn in the third quarter 2017.
Cash flow from operating activities for the third quarter 2018 was $12.1bn, which included negative working capital movements of $2.6bn, compared with $7.6bn in the third quarter 2017, which included negative working capital movements of $1.3bn. Excluding working capital movements, cash flow from operations of $14.7bn mainly reflected increased earnings and higher dividends received.
Total dividends distributed to shareholders in the quarter were $3.9bn. In October, the first tranche of the share buyback programme was completed, with almost 61 million A ordinary shares bought back for cancellation for an aggregate consideration of $2bn. Today, Shell launches the second tranche of the share buyback programme, with a maximum aggregate consideration of $2.5bn in the period up to and including January 28, 2019.
In October, Shell completed the sale of its Downstream business in Argentina to Raízen. The business acquired by Raízen will continue the relationship with Shell through various commercial agreements, including long-term brand licence agreements as well as products supply and offtake contracts.
For more information visit: www.shell.com
1st October 2018