Shell has announced in its Q3-2013 report, revenues of $116.5 billion, marginally up 3% YoY. However, profits fell steeply to $4.7 billion, a drop of 35% YoY.
Q3-2013 Financial Highlights:
- Lower profits due to increased E&P operating expenses, troubles in Nigerian operations, flat liquids production and weak performance in refining and LNG
- Capex of $8.8 billion, up 4.5% YoY
- Upstream capex of $7.6 billion, up 5.6% YoY; international capex increased 17% YoY, while Americas capex decreased 8% YoY
- Exploration expenses increased to $677 million, up 33% YoY
- Proceeds from divestments of $281 million
Q3-2013 Operational Highlights:
- Production flat at 2.9 MMBOE/d YoY
- Liquids production at 1.49 MMBOE/d, down 7% YoY, dragged by international production, down 11.4% YoY; Americas production increased 5.4%
- Gas production at 8.4 MMcf/d, up 4.5% YoY, boosted by 6% YoY in international production; Americas production flat
- Total international production and total Americas production both flat YoY
- Awarded 20% interest in Brazil's Libra prospect for $1.4 billion
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