Royal Dutch Shell’s second quarter results were adversely affected by a massive charge related to its shale oil fields in North America. These losses more than likely stem from the fact that Royal Dutch Shell arrived late to the U.S. shale party which is evident in its recent decision to shed its Eagle Ford assets. Furthermore, Shell also scrapped its long-term production targets, and all told, its second-quarter net profit fell 57%.
by Oct 10th 2013 3:11PM
EXTRACTS
The past few months have been rough for the oil super-majors, including industry titans Chevron , ExxonMobil , and Royal Dutch Shell. A combination of factors, including weak refining results and restrained production growth, lead many analysts to believe the current quarter will be just as rough as the second quarter.
Despite their reputations as best-in-breed oil stocks, should investors now view the industry negatively and avoid the sector as a result?
Royal Dutch Shell’s second quarter results were adversely affected by a massive charge related to its shale oil fields in North America. These losses more than likely stem from the fact that Royal Dutch Shell arrived late to the U.S. shale party which is evident in its recent decision to shed its Eagle Ford assets. Furthermore, Shell also scrapped its long-term production targets, and all told, its second-quarter net profit fell 57%.
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