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Shell smashes record again with $11.5 billion profit

Reuters · Ron Bousso · last updated

LONDON, July 28 (Reuters) — Shell (SHEL.L) on Thursday reported a second quarter profit of $11.5 billion, smashing its previous record just three months earlier, lifted by a tripling of refining profits and strong gas trading.

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Related Knowledge Center: ENERGY BASICS: petroleum

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While electric-powered vehicles may be the ride of the future, oil remains at least for now the dominant fuel for transportation around the world. And after a period of time at the end of the 20th century when oil was subject to wide fluctuations in price, new supplies in North America as a result of non-conventional recovery techniques have helped stabilize prices.

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