Shell Q1 earnings more than halve

Wednesday 29 April 2009

Oil giant Shell booked net profit of $3.3bn in the first three months of this year, less than half the year-earlier figure, the Anglo-Dutch company said in a statement.

Earnings were down because of the fall in oil prices, Shell said. The oil price has fallen from $150 a barrel to $50 a barrel over the course of the economic crisis,according to news agency ANP.

Oil production remained almost 3.4 million barrels a day, in line with the final quarter of last year, Shell said.

For the Reuters article click here

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