However, van Beurden assured investors that $20bn worth of completed or announced divestments would add further strength to the balance sheet.
He said: “The strategy we have outlined to deliver a world-class investment case is taking shape. Following the successful integration of BG, we are rapidly transforming Shell through the consistent and disciplined execution of our strategy.
“This includes investing around $25bn this year and the delivery of new projects, which we expect to generate $10bn in cash flow from operating activities by 2018.”
Shell kept its dividend held at $0.47, paying shareholders a total of $3.9bn in the quarter.
HSBC, was also one of the best performers of the FTSE 100 on Thursday, despite posting a 19% drop in profits.
Shares in the British bank were trading 4% higher at 671.2p by mid-morning, as markets digested the fall in reported profit before tax from $6.1bn to $4.96bn.
Adjusted profit before tax, which accounts for the effects of foreign currency translation differences and significant items, grew 12% to $5.9bn relative to the previous year.
Reported revenue of $13.0bn was also 13% lower.
Still, chief executive Stuart Gulliver called it a “good set of results.”
“The increase in adjusted profit was driven by strong performances in three of our four global businesses,” he said.
“Global banking and markets had a great quarter; commercial banking delivered higher revenue from our liquidity and cash management activities; and retail banking and wealth management was supported by rising interest rates and renewed customer investment appetite.
“In addition, we completed a $1bn buy-back, and made progress on our cost-saving programmes, giving us further confidence in our ability to hit the higher cost-saving target that we announced at our annual results.”
