ROYAL Dutch Shell has announced it has banked profits of £1.6m-an-hour, which it said was down to a good operational performance and not just soaring oil prices.
The Anglo-Dutch giant - part company of Shell UK and its refinery at Stanlow - said its earnings totalled $6.3billion (£3.4billion) for the three months to June 30 - an increase of 36% on a year ago.
But profits were hit by the aftermath of hurricanes in the Gulf of Mexico last year and also attacks by militants in Nigeria.
Daily production averaged 3.3m barrels of oil, compared with 3.7m in the first quarter.
Profits were boosted by a 35% industry average annual rise in oil prices during the period. The cost of crude oil averaged $69.53-a-barrel, compared with $51.63-a-year earlier.
Chief executive Jeroen van der Veer said: 'These results are underpinned by overall good operational performance and not simply high energy prices.'
He revealed the company aimed to open up some 20 billion barrels of oil equivalent resources by the end of this decade.
He explained: 'We are making major investments, which are measured in the tens of billions, to create new energy capacity for our customers, and to create long-term value for our shareholders.'
Shell said production levels were down in Nigeria due to the security situation. Its Mars platform in the Gulf resumed production.
The firm has blamed the attacks in Nigeria and the hurricanes for missing its goal of reducing oil spills.
