Royal Dutch Shell Plc  .com Rotating Header Image

Shell reports biggest profits slide for a decade

By DAILY MAIL REPORTER

Last updated at 9:30 PM on 25th January 2009

Shell will this week report the biggest quarterly fall in profits for ten years as a result of plunging oil prices. 

The oil major is expected to report a 62 per cent fall in profits in the last quarter compared with the £6.6billion it made in the third quarter. 

shell

Sliding: Shell’s profits have been hit by the falling price of oil

The expected collapse in earnings reflects a tumble in the price of ‘black gold’ from over $147 a barrel at its peak last summer to just over $40 at present. 

Shell’s investment programme is expected to have been about £21.6billion in 2008, but the group recently postponed some Canadian oil sand projects as they require high prices to justify their development. With production levels under pressure, the company’s performance in finding new reserves will be closely watched. 

Rival BP is also forecast to report a massive fall in profits when it reports annual results next week.

Daily Mail Article

This website and sisters royaldutchshellgroup.com, shellnazihistory.com, royaldutchshell.website, johndonovan.website, and shellnews.net, are owned by John Donovan. There is also a Wikipedia segment.

Leave a Reply

Your email address will not be published. Required fields are marked *

This site uses Akismet to reduce spam. Learn how your comment data is processed.

Comment Rules

  • Please show respect to the opinions of others no matter how seemingly far-fetched.
  • Abusive, foul language, and/or divisive comments may be deleted without notice.
  • Each blog member is allowed limited comments, as displayed above the comment box.
  • Comments must be limited to the number of words displayed above the comment box.
  • Please limit one comment after any comment posted per post.