SHELL DOWN 37%
Royal Dutch Shell's second quarter 2015 earnings, on a current cost of supplies (CCS) basis, were $3.4 billion compared with $5.1 billion for the same quarter a year ago.
Second quarter 2015 CCS earnings excluding identified items were $3.8 billion compared with $6.1 billion for the second quarter 2014, a decrease of 37%.
Compared with the second quarter 2014, CCS earnings excluding identified items benefited from strong Downstream results reflecting steps taken by the company to improve financial performance and higher realised refining margins. In Upstream, earnings were impacted by the significant decline in oil and gas prices and decreased production volumes, partly offset by lower costs and depreciation.
Basic CCS earnings per share excluding identified items decreased by 37% versus the same quarter last year.
Cash flow from operating activities for the second quarter 2015 was $6.1 billion, compared with $8.6 billion for the same quarter last year. Excluding working capital movements, cash flow from operating activities for the second quarter 2015 was $7.6 billion, compared with $11.0 billion for the second quarter 2014.
Total dividends distributed to Royal Dutch Shell plc shareholders in the quarter were $3.0 billion, of which $0.7 billion were settled under the Scrip Dividend Programme. No shares were bought back during the second quarter.
Gearing at the end of the second quarter 2015 was 12.7%.
A second quarter 2015 dividend has been announced of $0.47 per ordinary share and $0.94 per American Depositary Share ("ADS").
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PLATTS - National Australia Bank announced Thursday it will no longer provide financing for new thermal coal projects.
Petrobras and ExxonMobil signed a memorandum of understanding regarding a strategic alliance to jointly identify and evaluate potential business opportunities.
ExxonMobil Development Africa B.V. has acquired a 25 percent indirect interest in Mozambique’s gas-rich Area 4 block from Eni and assume responsibility for midstream operations.
U.S. Rig Count is down 1 rig from last week to 930, with oil rigs down 4 to 747, gas rigs up 3 to 183, and miscellaneous rigs unchanged. Canada Rig Count is up 19 rigs from last week to 238, with oil rigs up 22 to 134 and gas rigs down 3 to 104.