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The British-Dutch energy giant Royal Dutch Shell, French Total and Spanish Repsol reported Thursday rising net profits due to soaring oil prices.
Rising oil prices can drive up inflation the economy is down – but first they translate into increased revenues and profits of major energy companies and countries producers. "The rise in the price of crude oil is obviously very good news for the oil companies," said badyst Fawad Razaqzada. He adds, "The higher the price of oil, the better profit margins and revenues for oil companies."
The oil market was propelled by an agreement concluded in December 2016 between the Organization The price of Brent crude from London, which is the world's leading oil benchmark, jumped by about 50 percent in the last twelve months
Fearing a surge in prices out of control, OPEC and Russia entered into a new contract in June to open the faucets.
The growing market has nonetheless increased further on the production disruptions of Shell oil producers
Royal Dutch Shell announced on Thursday that net profits in the second quarter had quadrupled, boosted by high oil prices and sales. Assets, and launched a vast repurchase of $ 25 billion shares. [19659002Thisneeded$60billionofthecollinsofthreemonthsofJune2006
The company sold $ 2.5 billion worth of badets, with divestitures in Canada, India, Malaysia, Norway and Thailand.
Markets.com badyst Neil Wilson told AFP that Shell "was reaping the benefits of rising oil prices … and that it was very effective. Cost The French oil and gas giant Total announced Thursday in Beijing an 83% jump in its net profit to $ 3.7 billion
. Adjusted net income jumped 44 percent to $ 3.55 billion, helped by a relatively recent and partial recovery in Libya's output – whose exports rose 44 percent to $ 3.55 billion.
Libya boost
"Total also benefits from the reopening of Libya's oil export capacity," said AFP Artjom Hatsaturjants, an badyst at Accendo Markets
"He has a long history of operating here and its position strengthened after the purchase of some Marathon Oil badets in the country. "
And in Madrid on Thursday, Repsol said adjusted net profit jumped close a quarter to 549 million euros in the same period
The Norwegian oil group Equinor, formerly known as Statoil, published unfavorable news
. Equinor 's net profit declined 15% to $ 1.2 billion, but the business turnover increased by one – fifth. to 18.1 billion dollars
© Agence France-Presse
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