(UKPA) 16 minutes ago
Royal Dutch Shell has announced a 70% slide in profits to 2.3 billion US dollars (£1.4 billion) in the period between April and June.
The Anglo-Dutch firm achieved profits of £22 billion last year, but, in line with BP on Tuesday, it said the weaker global economy had impacted its performance in the second quarter.
New chief executive Peter Voser said: “Energy demand is weak.”
“There is excess capacity in the market, and industry costs remain high.”
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