Shell reports record $25bn profit (BBC)

[eppur_se_muova]

Oil giant Royal Dutch Shell has reported record annual profits of $25.36bn (£12.94bn) for 2006.

Strong operations in the US and growth in deep water gas production off Nigeria helped boost the fortunes of Europe's second-biggest oil company.

Shell's surging annual earnings meant the Anglo-Dutch giant generated earnings of almost £1.5m an hour.

However, analysts warned that the current year could be tougher for Shell following a fall in the price of oil.

The company added that it was continuing to deal with "major security related concerns" in Nigeria's Delta oil producing region, where attacks on pipelines have knocked production.
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more: http://news.bbc.co.uk/2/hi/business/6319577.stm

This makes a nice 'bookend' with Exxon-Mobil's record profit of $39.5 billion: http://news.bbc.co.uk/2/hi/business/6320933.stm

http://www.democraticunderground.com/discuss/duboard.php?az=show_mesg&forum=102&topic_id=2712349&mesg_id=2712349

[soothsayer]

1. pikers compared to exxon mobil!

[Canuckistanian]

2. If you're still making $billions, how "tough" could it be?

I'm sure that Ford would LOVE to have it so tough.

[oblivious]

3. Shell goes its own way with Iranian gas-field deal

Terry Macalister in London
January 31, 2007

THE Anglo-Dutch oil and gas company Shell has signed a deal to help Iran develop a large gas field, ignoring pressure from the United States to isolate the country.

European governments are resisting US demands that they curtail support for exports to Iran and block transactions and freeze assets of some Iranian companies.

...Shell announced on Monday that it had reached agreement on various aspects of its Iranian liquefied natural gas project, centred on the South Pars gas field. The company - which is struggling to bring more momentum to its business after being forced to hand over vital Russian reserves at Sakhalin island to the Kremlin - was still a year away from a final decision on whether to proceed with the multibillion-dollar project to build an LNG terminal capable of handling 8 million tonnes a year, a Shell spokeswoman said. "We have signed an upstream service agreement as part of our work to assess the feasibility of the project," she said, referring to the production deal. Spain's Repsol is also involved in the deal.
http://www.smh.com.au/news/world/shell-goes-its-own-way-with-iranian-gasfield-deal/2007/01/30/1169919338599.html