Royal Dutch Shell announced second quarter 2011 earnings of $8 billion compared with $4.5 billion the same quarter a year ago. The company’s CEO Peter Voser said the rise was driven by increased energy prices and Shell’s operating performance.
"Shell reinvests its profits to meet customer demand for low-cost energy, and to pay attractive returns to shareholders," he said.
While in upstream volumes increased by 2%, in downstream, maintenance activities and weak industry refining margins masked a resilient performance from oil products marketing and chemicals in the quarter.
He said Shell’s strategy was on track: "Performance focus, delivering a new wave of production growth, and maturing the next generation of growth projects for shareholders."