Shell hailed a “strong start” to 2021 as the oil giant reported a huge leap in profits and drove down debt levels in Q1.
Energy giant BP surged back into the black in the first quarter of 2021 on the back of higher oil prices and “exceptional” gas marketing and trading performance.
Shell has warned that cash flow will take a major hit when the firm publishes its first quarter results next month.
BP today reported a first quarter replacement cost loss of $485million - a significant decrease on last year's $2.1billion profit.
Shares in Royal Dutch Shell have been under pressure in 2012, despite the price of Brent crude being above $120 a barrel for much of the year, over concerns about supply from the Middle East and North Africa.
EXXONMOBIL said yesterday it had achieved solid first-quarter 2009 results despite the slowdown in the global marketplace and sharply lower commodity prices.