Chemical reaction

4 May 2017 By Andy Critchlow

Recovering prices boosted the Anglo-Dutch group’s first-quarter earnings. Judging by the downstream performance of Shell’s chemicals unit and improved efficiency, its diversification is paying off. The second half of the challenge is to convince markets to look beyond crude.

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Royal Dutch Shell said on May 4 its first-quarter earnings more than doubled compared to a year earlier.

The Anglo-Dutch company reported net income, defined as current cost of supplies excluding non attributable items, for the three months ending March 31 of $3.8 billion compared with $1.6 billion a year earlier.

Its ratio of net debt to capital fell to 27.2 percent, down from 28 percent in the first quarter of 2016.

At 1018 BST, Shell’s London-listed shares were up 2.3 percent to 2,064 pence.

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