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Shell Earnings Tumble to 11-Year Low on Oil, Weaker Refining

  • Profit misses analyst estimates by more than $1 billion
  • Lower crude prices remain ‘significant challenge,’ CEO says
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Shell Misses Earnings Estimates by More Than $1 Billion

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Royal Dutch Shell Plc reported the lowest quarterly earnings in 11 years and missed estimates by more than $1 billion as a mix of lower energy prices, weaker refining margins and production halts weighed on Europe’s largest oil company.

Profit adjusted for one-time items and inventory changes sank 72 percent from a year earlier to $1.05 billion, The Hague-based Shell said Thursday. Analysts had expected a $2.16 billion result.