Can You Be Sure Of Shell?

May 2006 | Company Finance Alert

Faced with massive challenges in terms of rebuilding its depleted reserves, securing some volume growth options and implementing a new strategy, Royal Dutch Shell continues to confound its critics with almost inexplicably good financial results. BP just about matched investor expectations, while ExxonMobil's first quarter performance proved disappointing. Shell, however, has delivered a sparkling set of results in spite of its production problems in the US and Nigeria. Its unit profitability in the upstream segment is surprisingly robust, while the relative weakness of global refining margins made smaller inroads into group earnings than had been feared. The wisdom of its

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