Business Chief Europe Magazine April 2018 | Page 84

‘ Deep spending and job cuts have allowed Shell to adapt to the $ 50 per barrel oil market ’

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‘ Deep spending and job cuts have allowed Shell to adapt to the $ 50 per barrel oil market ’

02 www . shell . com

Royal Dutch Shell $ 240.03bn

Royal Dutch Shell is incontestably this year ’ s European success story . While the company ’ s net revenue $ 240.03bn decreased by 11.8 % from the last financial year , Shell experienced a profit increase of 135.9 %, the highest by far of any company in the European top 10 . Deep spending and job cuts have allowed Shell to adapt to the $ 50 per barrel oil market . Third-quarter profits were also boosted in Shell ’ s upstream sector by Hurricane Harvey , which temporarily reduced US oil production by over 25 %. The company announced it remains confident going into 2018 , provided world oil prices remain above $ 50 per barrel .
84 April 2018