Shell to Make First Profit From Oil Output Since Pandemic
- Company’s upstream unit posted losses for most of 2020
- First-quarter trading in integrated gas ‘significantly’ lower
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Royal Dutch Shell Plc said it expects to make the first profit from pumping oil since the start of the pandemic.
Shell’s upstream unit, which largely handles the exploration and production of crude, was able to capture “the upside from the current commodity price environment” in the first quarter, according to a statement Wednesday.