Shell quarter income up

Voser: Shell asset sales for 2012 are likely to be over $4 billion, CEO Peter Voser says.

Supermajor Shell has recorded a clean net income of $7.28 billion in its first quarter profits for 2012, up 16% on the $6.29 billion recorded over the same period in 2011.

Net income attributable to shareholders was $8.72 billion, down 1% or $61 million on the same period in 2011 but up 34% or $2.22 billion on the $6.5 billion recorded in the December quarter of 2011.

The changes came as Shell lifted its first quarter 2012 earnings to $7.7 billion compared with $6.9 billion in the March quarter of 2011.

In an announcement, Shell chief executive Peter Voser said the earnings had increased through a combination of improved operating performance, increased upstream volumes and strong oil prices.

While the fundamentals of energy demand were…

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