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Shell reports biggest profits slide for a decade


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. 


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 and its also non-profit sister websites,,,,, and are all owned by John Donovan. There is also a Wikipedia article.

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