* Earnings $6.1 bln vs $5.46 bln forecast
* Raises dividend, flags $30 billion returns to investors
* Impairments of $1.943 bln related mainly to U.S. gasassets
* Oil, gas production rises slightly
* Shares jump 3 percent (Recasts, adds analyst rating)
By Alex Lawler
LONDON, July 31 (Reuters) - Royal Dutch Shell Plc reported a 33 percent increase in quarterly earnings onThursday, beating analyst forecasts despite impairments ofalmost $2 billion after producing more liquids and selling athigher prices.
The Anglo-Dutch oil company also raised its quarterlydividend and said the value of its share buybacks and dividendsfor 2014 and 2015 would exceed $30 billion. The stock rose 3 percent in early trade.
Shell's second-quarter earnings on a current cost ofsupplies basis excluding one-time items were $6.1 billion, up 33percent from a year earlier. Analysts had expected earnings of$5.46 billion.
"The upstream number was good and the downstream number wasbetter than expected," said Jason Kenney, analyst at Santander,referring to Shell's two largest divisions. "Although downstreamwas still a weak number."
"Across the business there are some very materialwritedowns. There may be even more writedowns to come," saidKenney, who has a "hold" rating on Shell's shares.
The quarter's earnings included a net charge of $1 billionafter tax with impairments of $1.943 billion related mainly togas assets in the United States.
The company joins rival BP Plc in reportingbetter-than-expected earnings.
Chief Executive Ben van Beurden is aiming to improve returnsthrough selling assets and more selective project choices aftera rare profit warning issued in January.
Shell announced a second-quarter 2014 dividend of $0.47 perordinary share, up 4 percent year on year and in line withanalyst forecasts.
Global oil companies including Shell have struggled to boosttheir production in recent years, due in part to declines atexisting fields and delays with new projects.
Shell's oil and gas output in the quarter equalled 3.077million barrels of oil equivalent per day (boepd), up from 3.062million a year earlier. Some analysts had expected a decline.
Van Beurden, in a statement, said there was room for furtherimprovement.
"Our financial performance for the second quarter of 2014was more robust than year-ago levels," he said. "But I want tosee stronger, more competitive results right across the company,particularly in Oil Products and North America resources plays." (Additional reporting by Karen Rebelo in Bangalore; editing byJason Neely and Tom Pfeiffer)