International oil giant Shell said its profit have surged as the recent rise in oil prices more than offset the cost of US hurricanes.
Shell?s cost of supply earnings rose to $7.37bn in the three months to 30 September. That was up 68% compared with the same time last year, though when one-off gains from the sale of assets were excluded it fell $1.57bn to $5.8bn.
The recent hurricanes in the US had hit production at several refineries, but most were now back on line, Shell said.
The company said that the cost of repairing damage to rigs and refineries following the US hurricanes would be about $350m, although most of this would be covered by insurance.
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Shell Got Incredible Rise In Earnings
That was up 68% compared with the same time last year
