{"id":64170,"date":"2018-04-26T11:34:28","date_gmt":"2018-04-26T11:34:28","guid":{"rendered":"https:\/\/www.biphoo.com\/bipnews\/?p=64170"},"modified":"2018-04-26T11:34:28","modified_gmt":"2018-04-26T11:34:28","slug":"shell-total-start-2018-on-a-high-thanks-to-rising-oil-prices","status":"publish","type":"post","link":"https:\/\/www.biphoo.com\/bipnews\/business\/shell-total-start-2018-on-a-high-thanks-to-rising-oil-prices.html","title":{"rendered":"Shell, Total start 2018 on a high thanks to rising oil prices"},"content":{"rendered":"<h2 style=\"text-align: justify\"><span style=\"font-size: 18pt\"><strong><span style=\"font-family: Arial, Helvetica, sans-serif;color: #000000\">Shell, Total start 2018 on a high thanks to rising oil prices<\/span><\/strong><\/span><\/h2>\n<p style=\"text-align: justify\"><span style=\"font-family: Arial, Helvetica, sans-serif;font-size: 14pt;color: #000000\">Brent crude oil prices in the first three months of this year averaged around $67 a barrel, leaving last year\u2019s $54.5 behind as a distant echo of the price crash of late 2014.<\/span><\/p>\n<p style=\"text-align: justify\"><span style=\"font-family: Arial, Helvetica, sans-serif;font-size: 14pt;color: #000000\">The world\u2019s top oil companies are expected to generate more cash in 2018 than at any other time this decade after three years of cuts, but boards remain cautious over near- and long-term price uncertainty.<\/span><\/p>\n<p style=\"text-align: justify\"><span style=\"font-family: Arial, Helvetica, sans-serif;font-size: 14pt;color: #000000\">However, Shell shares slipped 2.7 percent by 1000 GMT as cash flows fell short of investors\u2019 strong expectations. Total shares gained 0.7 percent.<\/span><\/p>\n<p style=\"text-align: justify\"><span style=\"font-family: Arial, Helvetica, sans-serif;font-size: 14pt;color: #000000\">With Shell\u2019s output up 2 percent at 3.8 million barrels of oil equivalent per day (boe\/d) and Total\u2019s production rising 5 percent to 2.7 million boe\/d in the quarter, both were well positioned to capture the price upswing in benchmark oil prices.<\/span><\/p>\n<p style=\"text-align: justify\"><span style=\"font-family: Arial, Helvetica, sans-serif;font-size: 14pt;color: #000000\">The Organization of the Petroleum Exporting Countries, together with other producers led by Russia, started in early 2017 to throttle its output to revive prices and regain market share from U.S. oil producers.<\/span><\/p>\n<p style=\"text-align: justify\"><span style=\"font-family: Arial, Helvetica, sans-serif;font-size: 14pt;color: #000000\">This month, Brent crude oil futures climbed above $74 a barrel, reaching highs last seen in late 2014 \u2014 a welcome development for oil producers.<\/span><\/p>\n<p style=\"text-align: justify\"><span style=\"font-family: Arial, Helvetica, sans-serif;font-size: 14pt;color: #000000\">Shell reported a 42 percent rise in first-quarter profit, its highest in over three years. Adjusted net income rose to $5.322 billion, topping a company-provided analysts\u2019 consensus of $5.277 billion.<\/span><\/p>\n<p style=\"text-align: justify\"><span style=\"font-family: Arial, Helvetica, sans-serif;font-size: 14pt;color: #000000\">Total\u2019s net adjusted profit came in at $2.9 billion, beating analysts\u2019 forecast of $2.77 billion in the quarter.<\/span><\/p>\n<p style=\"text-align: justify\"><span style=\"font-family: Arial, Helvetica, sans-serif;font-size: 14pt;color: #000000\">Armed with such results, Shell and Total are in payback mood to investors, buying back shares after diluting stakes with scrip dividends &#8211; consisting of shares rather than cash &#8211; introduced after the price crash which sent oil prices as low as $28 a barrel.<\/span><\/p>\n<p style=\"text-align: justify\"><span style=\"font-family: Arial, Helvetica, sans-serif;font-size: 14pt;color: #000000\">Shell plans to buy back $25 billion of shares by 2020 and Total said it will raise first quarter interim dividend by 3.2 percent, while Scrip shares issued in January for the second 2017 interim dividend were bought back.<\/span><\/p>\n<p style=\"text-align: justify\"><span style=\"font-family: Arial, Helvetica, sans-serif;font-size: 8pt;color: #000000\">Source:-https:\/\/www.reuters.com\/article\/us-oilmajors-results\/shell-total-start-2018-on-a-high-thanks-to-rising-oil-prices-idUSKBN1HX1IQ<\/span><\/p>\n<div class=\"fb-background-color\">\n\t\t\t  <div \n\t\t\t  \tclass = \"fb-comments\" \n\t\t\t  \tdata-href = \"https:\/\/www.biphoo.com\/bipnews\/business\/shell-total-start-2018-on-a-high-thanks-to-rising-oil-prices.html\"\n\t\t\t  \tdata-numposts = \"10\"\n\t\t\t  \tdata-lazy = \"true\"\n\t\t\t\tdata-colorscheme = \"light\"\n\t\t\t\tdata-order-by = \"social\"\n\t\t\t\tdata-mobile=true>\n\t\t\t  <\/div><\/div>\n\t\t  <style>\n\t\t    .fb-background-color {\n\t\t\t\tbackground: #ffffff !important;\n\t\t\t}\n\t\t\t.fb_iframe_widget_fluid_desktop iframe {\n\t\t\t    width: 630px !important;\n\t\t\t}\n\t\t  <\/style>\n\t\t  ","protected":false},"excerpt":{"rendered":"<p>Shell, Total start 2018 on a high thanks to rising oil prices Brent crude oil prices in the first three months of this year averaged around $67 a barrel, leaving last year\u2019s $54.5 behind as a distant echo of the price crash of late 2014. The world\u2019s top oil companies [&hellip;]<\/p>\n","protected":false},"author":9,"featured_media":64171,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[9],"tags":[146,117626,128711,30775,128710,134227],"class_list":["post-64170","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-business","tag-business-news","tag-business-news-today","tag-latest-and-daily-business-news","tag-latest-business-news-usa","tag-live-updates-news","tag-shell-total-start-2018-on-a-high-thanks-to-rising-oil-prices"],"_links":{"self":[{"href":"https:\/\/www.biphoo.com\/bipnews\/wp-json\/wp\/v2\/posts\/64170","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.biphoo.com\/bipnews\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.biphoo.com\/bipnews\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.biphoo.com\/bipnews\/wp-json\/wp\/v2\/users\/9"}],"replies":[{"embeddable":true,"href":"https:\/\/www.biphoo.com\/bipnews\/wp-json\/wp\/v2\/comments?post=64170"}],"version-history":[{"count":0,"href":"https:\/\/www.biphoo.com\/bipnews\/wp-json\/wp\/v2\/posts\/64170\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.biphoo.com\/bipnews\/wp-json\/wp\/v2\/media\/64171"}],"wp:attachment":[{"href":"https:\/\/www.biphoo.com\/bipnews\/wp-json\/wp\/v2\/media?parent=64170"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.biphoo.com\/bipnews\/wp-json\/wp\/v2\/categories?post=64170"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.biphoo.com\/bipnews\/wp-json\/wp\/v2\/tags?post=64170"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}