Shell Points to a Another Bleak Quarter for Big Oil
- Fuel sales still weak, trading gains wane, further writedowns
- Energy giant releases first detailed fourth-quarter figures
This article is for subscribers only.
Investors expecting an end-of-year rebound in the oil and gas industry could be in for a disappointment, if figures published by Royal Dutch Shell Plc are any indication.
The Anglo-Dutch energy giant gave a first taste of what could prove to be another bleak quarter for the industry. It warned of another multibillion-dollar impairment charge, significantly weaker oil trading, a loss in its upstream division and fuel sales that remain sluggish.