Shell reported that cash flow from operating activities was $5.3 billion for the fourth quarter of 2007, compared to $6 billion in the fourth quarter of 2006. Excluding working capital movements and taxation effects, cash flow from operating activities was $9.9 billion, compared to $8.8 billion a year ago.
Full year cash flow for 2007 from operating activities was $34.5 billion, compared to $31.7 billion in 2006. Adjusted for working capital movements and taxation effects, cash flow from operating activities for the full year 2007 was $39.5 billion, similar to the full year of 2006.
Capital investment for the fourth quarter 2007 was $8.5 billion. Full year capital investment for 2007 was $26.6 billion, excluding the minority share of Sakhalin of $0.5 billion, with an additional $7.1 billion used for the acquisition of the minority shares of Shell Canada. Approximately $9.9 billion of proceeds were realized from divestments. Net capital investment for the full year of 2007 was $23.8 billion.
Jeroen van der Veer, Royal Dutch Shell’s CEO, said: Overall these are satisfactory results. We made good progress in 2007, launched new projects upstream and downstream, and achieved exploration successes. In the fourth quarter, we continued to see weak refining margins. We are proceeding with the rejuvenation of our portfolio with investment in new legacy assets, and through disposals. The execution of our strategy is on track.
