The story of a non-resident Bangladeshi family establishing and running the famed perfume company Al Haramain and its successful subsidiaries
Europe’s largest oil company by market capitalization said on Thursday its current cost of supply (CCS) net income was $7.70 billion. Excluding one-offs, the result was $7.27 billion, compared with a forecast for $6.70 billion in a company poll of analysts.
Shell lifted its target for assets sales in 2012 to $4 billion from $2-3 billion, echoing an industry trend of companies trying to churn their portfolios more regularly.
By jettisoning mature assets earlier in their life cycle, companies hope to focus reserves on higher growth activities.
Production was up 1.4 percent in the quarter compared to the same period a year earlier at 3.55 million barrels of oil equivalent per day, with the ramp-up of new projects being off-set by asset sales.
Shell’s refining division produced a weaker underlying result despite some improvement in industry refining margins.
Chief executive Peter Voser said he expected weakness in the division to continue, and for low U.S. natural gas prices to continue to eat into profit.
“In downstream and North American natural gas we see continued challenges for our industry,” he said. Brent crude prices averaged $118.60 per barrel last quarter, up from $105.43 a year before.
CCS earnings strip out unrealised gains or losses related to changes in the value of inventories, and as such are comparable with net income under U.S. accounting rules.
The story of a non-resident Bangladeshi family establishing and running the famed perfume company Al Haramain and its successful subsidiaries
Matches will be played on an exclusive Saturday with no Premier League fixtures taking place on the same day
The plant to be set up in Al Bihouth area is expected to process 900,000 tonnes of waste into energy
The minor didn't take his cellphone or wallet, assuming he'd return quickly
Nadal, 37, who missed virtually all of the 2023 season, is hoping to compete at the French Open in May where he is the record 14-time champion
A Good Samaritan offered him a ride to Bur Dubai for free, declining Sahni's attempt to offer payment
Passengers with cancelled bookings will receive a full credit voucher for the amount paid
Passengers must go to the airport only if they have a confirmed reservation