Royal Dutch Shell announced their profits are up 7 per cent on a current cost of supplies (CCS) basis for the second quarter of 2008 compared to the same period last year.
Between April to June, Shell earned $7.9 billion compared to $7.6 billion a year ago. Despite adverse forecourt trading conditions, Jeroen van der Veer, Chief Executive said;
“Good operating performance, combined with increased oil and gas prices, offset the impact of weaker downstream conditions in the second quarter 2008.”
The news comes just days after BP announced a similar increase of 6 per cent. It is likely to increase the criticism of energy companies from environmental and energy watchdogs.
