Shell Posts Higher Profit, Beats Cost-Cutting Target
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Royal Dutch Shell Plc, Europe’s largest oil company, posted a 15 percent increase in second-quarter profit on higher oil prices and production as it exceeded a target for cost savings.
Net income rose to $4.39 billion from $3.82 billion a year earlier, The Hague-based Shell said today in a statement. Excluding one-time items and inventory changes, earnings beat analyst estimates.