Shell Records A Whopping US$11.5 Billion Profit

Shell reported its second-quarter profit of US$11.5 billion which is a new record for the group after it posted a similar stratospheric record in the earlier quarter.

The increased profits came from its higher revenue from refining and strong gas business, surging petrol price which last traded at US$107 per barrel has also contributed to the whopping profits. Shell shares were up 0/9% of the news at the opening of trading in London. The company has also announced a share buyback programme of US$6 billion for the current quarter.

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