Weaker Oil Prices Hit Shell Profits -- Finspreads
LONDON -- (Marketwire) -- 01/31/13 -- Finspreads: Annual profits for
oil company Royal Dutch Shell have fallen to $27 billion (GBP 17
billion), a drop in comparison to the $28.6 billion made in 2011.
The retreat comes despite Shell's profits for the last three months
rising from $6.5 billion to $7.3 billion, but the company was hit by
the fall in oil prices throughout last year.
In a statement released on its website, Shell's chief executive
described 2012 as a year of "headwinds," adding that the company is
"delivering a strategy that others can't easily repeat."
Shell actually increased its output during last year, with 2012 being
the first year it sold more gas than oil in its history, and has
already stated an intention to press on with plans to deliver more
oil and gas, despite the difficult financial climate in many regions
across the world.
At 1010GMT Shell's shares were valued on the FTSE 100 at 2277.50p, a
fall of 1.21 per cent.
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