Gas Soars, Shell Reports Record Quarterly Profit of $11.6B

Royal Dutch Shell PLC has booked a record net profit of $11.6 billion in the second quarter, up 33 percent from the same period a year ago, thanks to high oil prices and the weak dollar.

The year ago figure was $8.67 billion.

The company says its selling price per barrel of oil was around $112, up from $64 a year earlier.

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Chief Executive Jeroen van der Veer called the results "competitive" in a statement Thursday.

A "good operating performance, combined with increased oil and gas prices, offset the impact of weaker" results from refineries, he said.