Shell posts record $23B profit

[Bhaisahab]

LONDON, England (Reuters) -- Royal Dutch Shell posted a record profit for a UK-listed company on Thursday, helped by high oil prices and strong refining margins.

SNIP

Full-year CCS net profit for 2005 was $22.94 billion, a record for a UK-listed company, analysts said.

SNIP

Shell said its reserve-replacement ratio -- the rate at which it matches the oil it pumps with new finds -- was 70 to 80 percent, including mineable reserves from Athabasca Oil Sands and year-end pricing impact and acquisitions and divestments.

SNIP

Shell is under pressure from investors for its poor reserve-replacement rate after achieving a ratio less than 50 percent in 2004. Analysts believe this shows Shell will struggle to grow its upstream oil and gas production business in coming years.

http://edition.cnn.com/2006/BUSINESS/02/02/shell.earns.reut/index.html

[davidinalameda]

1. that's 3 oil companies which have reported record profits

[ixion]

4. yep, just a coincidence? I think not.

Every last oil company ought to be indicted for price gouging, and every person should get a rebate for that gouging from these companies. :grr:

[Howland Owl]

2. $23 billion?

That's almost as much as the government's profits.

[Az_lefty]

3. I want to know what the Bush family profits are...

Why isn't anyone asking this question. Their heavily invested in oil, right? Wouldn't you think they would benefit from these ridiculous oil prices too? I mean, it's not like the little dictator would fuck Amerika for his family fortune but I just have to ask.

[Rose Siding]

5. Can't price gouging laws touch these guys?

Aren't these profits evidence of the same kind of swindle going on at Shady Slim's Filling Station?

[EuroObserver]

6. ...also reporting PEAK OIL n/t

[LetsGoMurphys]

7. Shell's political donations are mostly to the democrats...

<http://vfp92.org/CorporateDonors.html>

That just doesnt sound right.

[davepc]

8. Are the Dutch a big supporter of the GOP and Bush?

Royal Dutch Shell plc / Koninklijke Nederlandse Shell NV is an Anglo-Dutch major energy company, one of the top four vertically integrated private sector oil, natural gas, and gasoline companies in the world (along with BP, ExxonMobil, and Total). The company primarily explores, produces, transports, refines, stores, markets, distributes, and retails petroleum products. Shell also has a significant petrochemicals business (Shell Chemicals), and an embryonic renewable energy sector developing wind, hydrogen and solar opportunities. Its corporate headquarters are in The Hague and it is tax resident in the Netherlands, and it has its primary listing on the London Stock Exchange and the Amsterdam Stock Exchange.

http://en.wikipedia.org/wiki/Royal_Dutch_Shell

One would think the Netherlands would have laws against their companies making such a large profit.