The British oil and energy conglomerate Shell reports an unexpectedly high profit for the second quarter.
The adjusted profit after tax was 6.3 billion dollars, equivalent to approximately 67 billion kronor, which was an increase of 24 percent compared to the same period last year. This was above analysts' expectations, which were around 6 billion dollars, according to Bloomberg.
The oil extraction business accounted for over 2.3 billion dollars of the profit and increased by 37 percent compared to a year ago.
The revenue landed at 74.5 billion dollars, also more than expected. The analysts' average forecast was 69.4 billion.
Shell is also launching a new program for repurchasing shares – a form of dividend – of 3.5 billion dollars to the owners.
