Royal Dutch Shell Posts Lower Q3 Profit

Royal Dutch Shell PLC

posted a drop in its third-quarter profit. Royal Dutch Shell's clean current cost of supplies fell to $6.56 billion, from $7.00 billion in the year-ago quarter, versus analysts' estimates of $6.31 billion. Shell's quarterly net profit rose 2.3% to $7.14 billion, from $6.98 billion. Its total oil and gas production fell 1% to 2.982 million barrels of oil equivalent per day, from 3.012 million barrels of oil equivalent per day. Shell's total group revenue dropped 8.4% to $115.43 billion from $125.96 billion, while diluted earnings per share rose to 114 cents from 112 cents. Shell shares closed at $70.63 yesterday.