Royal Dutch Shell and Exxon profits almost double

[Joanne98]

Second-quarter profits at oil giant Royal Dutch Shell have almost doubled after the firm completed a year-long corporate restructuring programme.

The firm reported profits of $4.5bn (£2.9bn) on a current cost of supplies basis, up from $2.3bn a year ago.

Chief executive Peter Voser also defended deep sea oil drilling in the wake of rival BP's massive oil spill in the Gulf of Mexico.

Meanwhile, US oil giant Exxon Mobil reported quarterly profits of $7.6bn.

This was a rise of 85% on the $4.1bn it posted a year earlier. Revenue rose to $92.5bn, 23% higher than the $72.5bn it made a year ago.

http://www.bbc.co.uk/news/business-10799128