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KEY POINTS
* Third quarter 2008 earnings, on a current cost of supplies (ccs) basis, were $10.9 billion compared to $6.4 billion a year ago.
* Shell said the CCS result, which strips out unrealised gains or losses related to changes in the value of fuel inventories, included a net gain of $2.06 billion due to non-operating items, mainly related to the sale of a German gas network.
* A third quarter 2008 dividend has been announced of $0.40 per share, an increase of 11 percent .
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ANALYST COMMENTS:
PETER HEIJEN, THEODOOR GILISSEN
"The results were above consensus, I think the numbers were positive. I was expecting lower production because of the problems in Nigeria and the hurricanes in the Gulf of Mexico but production levels were quite OK."
ALEXANDRE WEINBERG, PETERCAM
"A good performance, all divisions have performed well. The big driver seems to be the downstream, it was much better than expected by the consensus, 40 percent above what was expected. The marketing appears to have been strong, the retail and business to business were really strong, which explains the performance. In summary, very strong results."
JASON KENNEY, ING
"We're looking at a good result from Shell. It's particularly strong on the downstream. We're expecting a positive day ahead."
(Reporting by Catherine Hornby) Keywords: SHELL/ tf.TFN-Europe_newsdesk@thomsonreuters.com cmr
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