Royal Dutch Shell says fourth-quarter earnings rose 14 percent as it made progress on plans to cut costs and sell assets to adjust to an environment of lower oil prices.
Brent crude was trading at $56.14 on Wednesday, down from more than $100 a barrel as recently as September 2014.
CEO Ben van Beurden says $15 billion of asset sales are either in progress or have been completed and Shell is on track to fulfill a planned $30 billion divestment program.
Net income rose 64 percent to $1.54 billion.
The Anglo-Dutch energy company said Thursday that profit for the last three months of 2016 adjusted for changes in the value of inventories and excluding one-time items advanced to $1.80 billion from $1.57 billion a year earlier.
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