Shell doubles up on oil price boom

Hefty rise: Peter Voser-led Shell doubles profit in third quarter

AFP/SCANPIX

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By Eoin O'Cinneide

 27 October 2011 06:41 GMT

Soaring oil prices doubled net profit at Anglo-Dutch supermajor Shell in the third quarter.

The oil giant was even able to take a huge hike in its tax bill as revenues spiked and it kept expenses in check, while depreciation costs were chopped.



Chief executive, Peter Voser, also vowed that the company will continue to hive off non-core assets after selling off more than its full-year target of $5 billion worth of assets ahead of schedule.



Net profit for the three months to the end of September hit $7.03 billion as against $3.57 billion in the comparable period last year. This was still,…

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