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EARNINGS

November 13, 1987

Royal Dutch-Shell Group's profit was up 27% to $1.18 billion in the third quarter. The Hague, Netherlands-based company, the world's largest oil concern, said exploration and production earnings increased substantially, reflecting the recovery in crude oil prices and lower exploration writeoffs, which more than offset reduced natural gas earnings due to lower prices in continental Europe. The company added that manufacturing, marine and marketing earnings fell sharply despite higher sales volumes, as increased supply costs weren't fully reflected in product prices. Chemical earnings improved, mainly reflecting higher prices for petrochemical products and improved plant utilization.

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