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BP and Shell profits poised to fall by half

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Screen Shot 2015-10-26 at 21.23.40Terry Macalister Energy editor: 25 October 2015

EXTRACTS

BP and Shell are set to unveil a drop of more than half in their third-quarter profits this week, raising new questions about their ability to retain dividends and avoid further job losses.

Shell has recently carried out its own cost reductions by trimming jobs in Aberdeen and by mothballing its drilling operations off Alaska for the foreseeable future.Specu lation continues, however, about dividend cuts.

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