A woman holds the handle of an old pram in front of vintage Shell petrol pumps near Chichester, Britain. Reuters
Royal Dutch Shell reported on Thursday a small drop in first quarter profit to $5.4 billion, but still easily beat forecasts, helped by stronger trading and liquefied natural gas earnings. Shell’s results outshone those of rivals Exxon Mobil, Chevron and BP which all saw sharp declines in profits
Pakistan has selected groups that include Exxon Mobil Corp and Royal Dutch Shell to build five liquefied natural gas (LNG) terminals as it aims to triple imports and ease gas shortages.
Royal Dutch Shell won the rights to market Guyana’s first cargoes of crude oil, the government said, just days after oil production began and launched the impoverished South American
Spot gold jumped 1.6% to $1,942.45 per ounce by 0816 GMT, rebounding from a 2.5% drop in early Asian trade. US gold futures rose 0.2% to $1,949.40.
The dollar, which has held above a two-year low hit on Thursday of 92.495, was down nearly 0.1% against a basket of currencies at 93.643, after shedding gains made in Asian trading.
Brent crude was up 52 cents, or 1.2%, at $45.02 a barrel by 0648 GMT, after falling around 1% on Tuesday. West Texas Intermediate oil was up 49 cents, or 1.2%, at $42.10 a barrel, having dropped 0.8% in the previous session.
Britain officially entered recession in the second quarter after gross domestic product (GDP) contracted by 2.2 per cent in the first three months of the year. The technical definition of a recession is two quarterly contractions in a row.