Disappointing quarter for Shell
Anglo-Dutch oil giant Shell on Thursday announced second quarter earnings of $2.4bn compared with $6b in the year-earlier period.
Underlying current cost of supplies earnings were $4.6bn for the quarter, a 221% decrease from the second quarter of 2012. Net profit halved to $1.7bn.
Production of oil and gas fell 1% to the equivalent of 3.06 million vats a day.
CEO Peter Voser called the results ‘clearly disappointing’. ‘Higher costs, exploration charges, adverse currency exchange rate effects and challenges in Nigeria have hit our bottom line,’ he said in a statement.
Thank you for donating to DutchNews.nl.
We could not provide the Dutch News service, and keep it free of charge, without the generous support of our readers. Your donations allow us to report on issues you tell us matter, and provide you with a summary of the most important Dutch news each day.Make a donation