On Thursday, Royal Dutch Shell said it might see new growth because of increasing production and a substantial return in profits for the third quarter.

Based on a current cost of supplies the firm recorded a profit of eighteen percent amounting to three decimal five billion dollars in the third quarter. 

The firm could witness this result as oil and gas prices increased. The company has shown greater cost efficiency. 

The CCS profit of the company in the third quarter was in the tune of four decimal nine billion dollars compared to two decimal six billion dollar of the third quarter of the last year. The firm announced that it could give forty two cents dividend per share in the third quarter. 

Shell’s CEO Peter Voser stated that the biggest oil group of Europe could see new growth as its earnings and cash flow has improved. 

He added saying that the firm has shown excellent progress and will do so in the future also. 

The results had surpassed all the expectations of analysts and happened for five percent increase in gas and oil production, a twenty two percent rise in sales of LNG and hike in downstream volumes. 

According to Voser the company has done remarkably well despite tough conditions prevailing in natural gas markets and refining industry. 

The first to come out with third quarter results in the oil industry of Europe is Shells and it is likely that other oil companies also come up with good results as analysts foresee massive profits due to increased oil and gas prices. 

The French oil major Total will submit its third quarter report on Friday. The US oil giant Exxon will be giving its reports on the later part of Thursday. 

Only BP which is expected to give its reports in the next week may not be at par with other firms as it still has to bear the costs for its oil spill in the Gulf of Mexico.