Shell's Turnaround Underway
The company has set a course for improvement, but it still needs some help from oil prices.
Results were strong across the board in the first quarter, with integrated gas and downstream posting increases as well. The upstream segment was the biggest contributor to the improvement, however, with earnings swinging to a $540 million profit from a loss of $1.4 billion last year. The increase in commodity prices was the primary driver, although volumes increased 6% too thanks to new field startups and an additional month of BG production.
Allen Good does not own shares in any of the securities mentioned above. Find out about Morningstar’s editorial policies.