Profit after tax had come in at almost $13 billion in 2017, the Anglo-Dutch giant said in a statement. Oil prices jumped last year on tight supply concerns but have since fallen back sharply, in line with volatility seen across financial markets. “Of course, the generally higher oil price over the year gave a boost to the numbers” at Shell, noted Richard Hunter, head of markets at Interactive Investor. “Shell’s fortunes remain tightly linked to the oil price, but following some housekeeping, the group’s better placed than it has been for some time,” he added. Shell said in 2018 it planned to buy back $25 billion worth of its shares through to the end of 2020.

Source: The Guardian January 31, 2019 10:30 UTC