Business
Shell Canada announces record earnings of $2 billion
Shell Canada announces record earnings of $2 billion.
About this update from Mapath Capital Corp
[{"type":"text","content":"\n\n\n\n\nFourth Quarter 2005\n\nCALGARY, Jan. 25 /CNW/ - Shell Canada Limited announces record annual\nearnings of $2,014 million or $2.44 per common share in 2005, up more than\n50 per cent from $1,286 million or $1.56 per common share in 2004. The\nearnings increase was primarily driven by strong commodity prices and refining\nmargins, and a strong contribution from the Athabasca Oil Sands Project.\nFourth-quarter earnings were $614 million or $0.74 per common share, more\nthan triple the $182 million or $0.22 per common share for the corresponding\nperiod in 2004.\nCash flow from operations reached a record $3,056 million in 2005, up\nover 40 per cent from $2,129 million in 2004.\nCapital, exploration and predevelopment expenditures reached\n$1,715 million compared with $951 million for 2004 due to higher investment in\nall three of the Company's businesses.\n\"Shell Canada achieved record production in 2005, which enabled it to\ntake advantage of strong commodity prices and deliver record earnings and cash\nflow. Breaking through the $2 billion barrier was a tremendous achievement,\"\nsaid Clive Mather, President and Chief Executive Officer, Shell Canada\nLimited. \"There were many exciting milestones including sustained Oil Sands\nproduction above design rates and launching our new unconventional gas\nbusiness. The company also laid the foundations for long-term growth with\nmajor land acquisitions, and record graduate and experienced hires.\"\n\n>\n\n\n","length":62210,"tagName":"div"}]