Royal Dutch Shell’s enormous fourth-quarter revenue in 2018 increased the profitability of the Anglo-Dutch group by 36% last year compared with the one before, as the energy sector benefited heavily from high prices, the containment of costs, cost-cutting, and focusing on projects with higher profit margins. Royal Dutch Shell announced that its quarterly earnings, in terms of current commission costs adjusted for emergency payments, rose to 5.69 billion. for the quarter ended December 31, 2018.
This is a leap compared to $4.5 billion announced in the corresponding period in 2017, that is, higher than the analysts’ initial forecasts for $ 5.39 billion. The rising profitability of the group is based on higher crude oil and gas prices, but on the biggest contribution from oil and LNG trading, despite market instability.
From 2014, when crude prices collapsed, Shell focused on cutting its operating costs and maintaining strict control over its costs, along with the completion of its $ 350 billion sale of assets. dollar, aimed at trimming the volume of its debt that was swollen after the redemption, instead of 54 billion. dollars, of the BG Group.
On an annual basis, Shell’s earnings rose to $ 21.4 billion. dollars in 2018 from nearly 15.8 billion. in 2017, the highest since 2014.