AJ Bell Investment director Russ Mould said: “Royal Dutch Shell’s shares were up in early trading despite a fall in earnings.
“The group has been hit by a combination of low oil prices and restructuring costs and investors were encouraged by the oil giant’s good cash flow performance.
“Shell has reduced its debt and, for the second consecutive quarter, free cash flow more than covered its cash dividend.
“A $30billion sell-off programme is also on course with most of the proceeds being put into high-quality, resilient projects.”
It comes after the boss of Shell said today that the energy giant’s “reshaping” is beginning to bear fruit.
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