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Shell Profit Falls Short as Rising Crude Costs Sap Refining

  • All three principal business units miss company forecasts
  • Increase in cash flow, lower debt help to buoy shares
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Shell CEO on 4th-Qtr Profit, Strategy and Globalization

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Royal Dutch Shell Plc reported fourth-quarter profit that missed analyst estimates after crude’s recovery drove up costs for refining while earnings from production did little more than break even.

Profit adjusted for one-time items and inventory changes totaled $1.8 billion, a billion dollars short of analyst estimates. The upstream, downstream and integrated-gas business units all missed company forecasts. Shell barely made any money from refining and trading: just $77 million, down 90 percent.