Shell earnings top $5 billion. But that's nearly half what it pulled in months ago
Shell has reported that it earned nearly $5.1 billion in the second quarter LONDON -- Shell reported Thursday that it earned nearly $5.1 billion in the second quarter, nearly half what the oil and natural gas giant pulled in during the first three months of the year as energy prices have plunged. The British energy company said its adjusted earnings followed lower oil and gas prices, production and trading. The figure was down from $11.5 billion in the same period a year ago and $9.6 billion in the first quarter. Oil and gas prices surged last year after Russia invaded Ukraine, fueling i NFL ation around the world and driving record profits for energy companies, including Shell, British rival BP and others. Prices have since fallen amid weak global economic growth and other factors, leading to lower earnings . “Shell delivered strong operational performance and cash flows in the second quarter, despite a lower commodity price environment," CEO Wael Sawan said in a statement. Th...