Open Grid Scheduler / Grid Engine via flickr
One of the largest energy companies in the world reported a 25% decrease in net profit due to shareholders, based on the current value of supplies and not including certain balance sheet items, to $ 3.6 billion compared to last year.
The indicator has reached a minimum since the end of 2016.
Analysts had forecast a profit of $ 4.93 billion, according to the company’s survey.
“Despite the volatility of profits, we achieved good cash flow performance for the quarter, which was characterized by a difficult macroeconomic situation in oil refining and petrochemicals, as well as lower gas prices,” said Shell CEO Ben Van Beurden.
Cash flow, one of the company's key indicators, rose to $ 11 billion from $ 9.5 billion a year earlier.
Free cash flow declined to $ 6.9 billion. The company previously announced that it intends to reach the figure from $ 25 to $ 30 billion a year between 2019 and 2021, and by 2025 - up to $ 35 billion.
source: reuters.com
The indicator has reached a minimum since the end of 2016.
Analysts had forecast a profit of $ 4.93 billion, according to the company’s survey.
“Despite the volatility of profits, we achieved good cash flow performance for the quarter, which was characterized by a difficult macroeconomic situation in oil refining and petrochemicals, as well as lower gas prices,” said Shell CEO Ben Van Beurden.
Cash flow, one of the company's key indicators, rose to $ 11 billion from $ 9.5 billion a year earlier.
Free cash flow declined to $ 6.9 billion. The company previously announced that it intends to reach the figure from $ 25 to $ 30 billion a year between 2019 and 2021, and by 2025 - up to $ 35 billion.
source: reuters.com
