ROYAL Dutch Shell said its profits jumped in the third quarter after it benefited from higher oil prices and a five per cent rise in production.
The group posted profits of 3.5 billion US dollars (£2.2 billion) for the three months to September 30, an increase of 18 per cent on a year earlier, although this was down on the second quarter haul of 4.5 billion US dollars. The figure, which exceeded City forecasts, also reflected progress on Shell’s 3.5 billion dollar cost-saving plans, which will see 7,000 jobs go. Chief executive Peter Voser said: “Our results have rebounded substantially from year-ago levels, driven by some improvement in industry conditions.”
