The British multinational oil and gas company Shell's second-quarter profit fell 18.6% from the previous quarter to 6.3 billion, beating analysts' expectations, according to its financial results statement released on Thursday.
The company posted a profit of about $6.3 billion in the April-June period. That was down 18.6% from the company's $7.73 billion profit in the previous quarter, but well above analysts' expectations of $6 billion.
The decline in Shell's second-quarter profit was driven by low prices and sales levels, as well as weak liquefied natural gas (LNG) trading, the company noted.
Meanwhile, the company also has announced that it will buy back $3.5 billion in shares over the next three months.
Reporting by Nuran Erkul Kaya in London
Writing by Duygu Alhan
Anadolu Agency
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