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Big jump in second quarter net profits for Shell

28 July, 2011

Royal Dutch Shell announced second quarter 2011 earnings of $8 billion compared with $4.5 billion the same quarter a year ago. The company's CEO Peter Voser said the rise was driven by increased energy prices and Shell's operating performance.

"Shell reinvests its profits to meet customer demand for low-cost energy, and to pay attractive returns to shareholders," he said.

While in upstream volumes increased by 2%, in downstream, maintenance activities and weak industry refining margins masked a resilient performance from oil products marketing and chemicals in the quarter.

He said Shell's strategy was on track: "Performance focus, delivering a new wave of production growth, and maturing the next generation of growth projects for shareholders."