Thursday, February 4, 2016

Shell profits pressured by low oil prices – NU.nl

That made the British-Dutch company announced Thursday.

The profit CCS inventory costs (ccs) excluding items, the standard for the group and the financial markets amounted to $ 1.8 billion (1.6 billion euros) a year earlier to $ 3.3 billion.

Last month, Shell already came up with an estimate out for the result in the fourth quarter. was discussed when a gain of 1.6 to 1.9 billion dollars.

For the full year, Shell saw profits plummet to $ 10.7 billion, from $ 22.6 billion in 2014. The company last year reduced its expenses and investments to $ 12.5 billion because of the difficult market conditions and this year will fall further expenditure is expected to

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on a net basis, over the past period, earnings of 939 million dollars. Around 2015 there was a decrease by 87 percent to $ 1.9 billion.



BG Group

Recently, the Shell shareholders agreed to the acquisition of the British gas company BG Group. The BG shareholders passed agree. Shell CEO Ben van Beurden said that the transaction is expected to be completed within a few weeks.

According to shell out the investments, together with those of BG, this year expected to reach 33 billion dollars. That’s 45 percent less than the peak reached the investments of both companies in 2013. Shell is working to remove thousands of jobs to cut costs.

As previously reported, Shell intends to maintain its dividend this year to at least $ 1.88 per share, as in 2015.

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By | <- - block start article link>: ANP

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