Shell reports massive profits

Royal Dutch Shell set a FTSE record last year, by reporting profits of around £10 billion, the largest ever reported by a UK-listed company.

This year it broke it’s own record by 30%, reporting profits of over £13 billion.

The profits come after a year when oil traders panicked at political instability and consumption rates, causing the price of oil sales to jump.

Exxonmobil also recently reported the largest profits in corporate history, at just under £20 billion.

While it’s easy to be cynical about the profits the oil companies are generating, it’s important to remember that it’s the oil buyers who are pushing up proces, not the oil sellers.

And, whether intended as spin against cynicism, or a genuine ideal, Shell announced that they expect to use profits to invest more heavily in greener fuels.

Story link: Shell reports massive profits

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