Royal Dutch/Shell Group
said second-quarter earnings and revenue jumped from the same period a year ago as higher petroleum prices lifted its results.
Earnings in the second quarter rose to $2.83 billion, up 28% from $2.21 billion last year. Excluding items and based on the estimated current cost of supplies, the company earned $3.34 billion, up from $2.20 billion a year ago.
Second-quarter sales for the group rose to $64.88 billion from $55.12 billion a year ago, an increase of 18%.
Royal Dutch Petroleum
( RD) makes up 60% of the group, and
Shell Transport & Trading
accounts for the other 40%.
On an adjusted basis, Royal Dutch earned 96 cents a share in the second quarter, while Shell Transport earned 83 cents per ADR.
The group's exploration and production segment had adjusted earnings of $2.02 billion, up from $1.81 billion a year ago. For the gas and power division, adjusted earnings were $452 million, compared to $149 million a year ago.
Oil products had adjusted earnings of $975 million vs. $347 million in the 2002 second quarter.
Shares of Shell Transport, which is based in London, were adding 14 cents to $39.25. Royal Dutch, based in the Netherlands, saw its shares slip 7 cents to $45.98 in
New York Stock Exchange