Profits at Shell have come in higher than expected, providing a boost to efforts by the oil major to close the valuation gap with its American peers.
Adjusted profits fell to $6 billion during the third quarter, down from $6.2 billion a year earlier but surpassing the $5.4 billion expected by analysts.
In a further fillip to shareholders the FTSE 100 group also announced a further $3.5 billion in share buybacks over the coming months, marking the twelfth quarter in a row that it has announced buybacks in the range of $3 billion to $4 billion.
The chemicals business recorded a loss of $111 million, as margins across the industry remain under pressure.
Earlier this year Shell halted work on the construction of one of