LONDON: Royal Dutch Shell said Thursday that net profit jumped 43 percent in the third quarter, energised like its competitor by rising oil and gas prices.
Profit after tax leapt to $5.84 billion (5.15 billion euros) in the three months to September from $4.09 billion in the same period of 2017, the Anglo- Dutch energy giant said in a statement, reports AFP.
The news came two days after British rival BP revealed that its third- quarter net profit had doubled on sharply higher oil prices.
Brent crude prices soared in September to a four-year peak above $82 a barrel partly on supply fears particularly in Iran, which faces new US sanctions. That contrasted with about $50 a barrel in the summer of last year.
Supply also remains under pressure after the OPEC oil cartel joined forces with 10 non-members including Russia to curb their collective output at the end of 2016.
The move was aimed largely at countering surging shale energy production in the United States, a key factor which had helped push Brent oil under $30 earlier that year.
The so-called OPEC+ group agreed a milestone deal to trim production from January 2017 by 1.8 million barrels a day to clear a global oil glut.