Shell reports 22 per cent rise in 3Q profit

AMSTERDAM: Royal Dutch Shell PLC, Europe's largest oil company, said Thursday its net profit rose 22 per cent in the third quarter despite a fall in production, as average oil prices remained high compared to a year earlier.

The company said net profit was $8.45 billion, up from $6.92 billion a year earlier, as sales rose 45 percent to $132 billion.

Chief Executive Jeroen van der Veer said the company was watching the global economic situation closely, but Shell was prepared to operate amid a wide range of energy prices.