Shell gains from high oil prices

Introduction
Shell Oil has just announced huge 3rd quarter profits. This article identifies various external environment factors that have had an impact on Shell

Glossary of Terms
3rd Quarter 2008 = Period July 2008 to September 2008
The Hague = The capital of Holland
Chancellor Alistair Darling = Chancellor of the Exchequer (UK Government minister of Finance)

Instructions
Read this article, and answer the following questions:

Q1) At the time of writing this post, the UK Pound to Hong Kong Dollar exchange rate was £1 = $HKD 12.61. Calculate Shell Oils 3rd quarter profit in $HKD.

Q2) What factors are suggested as the main reasons for this increase in profits?

Q3) The following objectives are mentioned in the article - are they short, medium or long term objectives?
a) ..to expand a Canadian oil sands project..
b) To pay progressive dividends…
c) …to make significant investments in the company for future profitability..

Q4) Describe the trend in the price of oil over the last year. Use at least one suitable diagram to support your explanation (hint: Look at this article and this one)

Q5) The following factors are mentioned in the article: What sort of STEEPLE factors are they?

a) ..the world economic situation

b) the impact of hurricanes in the Gulf of Mexico

c) ..Chancellor Alistair Darling said he wanted to see the (oil price) reductions passed on to motorists in the form of cheaper fuel