Shell Accelerates Share Buybacks As Profits Soar

Royal Dutch Shell’s (NYSE: RDS.A) profits soared to a four-year high in the third-quarter, boosted by rising oil and gas prices as the company accelerated its giant $25 billion share buyback program.

Although the $5.6 billion quarterly profit slightly missed forecasts for a fourth quarter, investors took heart from a nearly 60% rise in Shell’s cash generation to $12.1 billion, as deep cost savings in recent years filtered through.