Shell Canada Announces Record Quarterly Earnings

Shell Canada Limited announces record third-quarter earnings of $451 million or $1.64 per Common Share, up 94 per cent from $232 million or $0.84 per Common Share in the same quarter of 2003. The earnings increase was driven by strong commodity prices and refining margins, and a significant contribution from the Athabasca Oil Sands Project. Earnings for the first nine months of 2004 were $1,104 million or $4.01 per Common Share, up 78 per cent from $620 million or $2.25 per Common Share for 2003.

Cash flow from operations was a record $667 million for the third quarter and $1,746 million for the first nine months of 2004 compared with $464 million and $1,263 million respectively for the same periods in 2003. Capital and exploration expenditures were $312 million for the third quarter and $680 million for the first nine months of 2004 versus $185 million and $529 million respectively for 2003.

"I am delighted to report record quarterly operating earnings and cash flow for the Company. These results reflect strong performance across all of our businesses," said Clive Mather, President and Chief Executive Officer, Shell Canada Limited. "I am particularly pleased with our Oil Sands business, which demonstrated sustained production at design levels."
Events  SUBSCRIBE TO OUR NEWSLETTER

Our Privacy Pledge
SUBSCRIBE


Most Popular Articles


From the Career Center
Jobs that may interest you
Sr. Accountant / Accounting Specialist, Revenue Accounting
Expertise: Accounting
Location: Houston, TX
 
Project Engineer/Project Manager
Expertise: Project Management
Location: Baton Rouge, 
 
Accounting / Credit Associate
Expertise: Accounting
Location: Houston, TX
 
search for more jobs

Brent Crude Oil : $54.16/BBL 0.44%
Light Crude Oil : $51.37/BBL 0.56%
Natural Gas : $3.37/MMBtu 2.12%
Updated in last 24 hours