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Shell’s profits surpass $43bn after production hits new highs in Brazil and Gulf of Mexico

The Guardian - Energy · Jillian Ambrose · last updated

Fossil fuel firm plans to buy back shares for 16th consecutive quarter, as protesters say Shell’s profits are ‘horror show’

Profits at Shell have climbed to more than $43bn for the year so far after fossil fuel production in the Gulf of Mexico reached a 20-year high and production in Brazil set a new record.

The oil company reported better than expected earnings of $5.4bn for the third quarter, a 27% increase on the $4.3bn in the previous three-month period – but lower than the $6bn recorded over the same period a year earlier.

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