Shell reports $8bn Q2 net profit

LONDON: Royal Dutch Shell Plc reported a 77 percent rise in net second-quarter income compared with the same period last year, as higher oil prices, asset sales and non-cash gains outweighed a drop in production.

Shell said second-quarter current cost of supply net income was $8.00 billion. Excluding one-offs the result was $6.55 billion, just below an average forecast of $6.70 billion in a Reuters poll of eight analysts.

Rival BP reported a 13 percent rise in underlying net profits on Tuesday, while larger rival Exxon Mobil is predicted to report a 50 percent rise in underlying net income later on Thursday.

Copyright Reuters, 2011