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Shell and Exxon's profits boom

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Shell and Exxon's profits boom

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Royal Dutch Shell has beaten all forecasts with its third-quarter net profit.

It was up 71 percent on the same period last year at 8.4 billion euros.

High oil prices and asset sales outweighed a seven percent drop in oil and gas production.

Shell’s production was hit by two hurricanes that forced it to shut down some platforms in the Gulf of Mexico, militant attacks in Nigeria and a lack of new fields.

Meanwhile Exxon Mobil posted the highest ever US quarterly operating profit of 11.4 billion euros.

It was 58 percent up on the same quarter last year.