Royal Dutch Shell revenue reports better than expected

Royal Dutch Shell revenue reports better than expected

Oil giant Royal Dutch Shell Plc has released their latest quarterly reports and they have performed better than what the market had expected.

The company posted a 36 percent rise in second-quarter profits. This news helped the company boost its share price in the stock market.

Shell gained from increased prices of oil around the world and this more than compensated for disappointing production news.

The market analysts are also happy that the company is now sticking to their 2006 and 2007 spending plans. Jaap Barendregt, at FBS Bankiers spoke on this result: “It is a very good performance for Shell … even though production was lower. High oil prices obviously work well for the company.”