Shell issues profit warning for fourth quarter

Shell issues profit warning for fourth quarter

PanARMENIAN.Net - Royal Dutch Shell PLC has issued a profit warning for the fourth quarter, saying results will be worse than most analysts are expecting due to a mix of lower than expected production, higher than expected costs, and a worse than expected performance by its refining division, the Associated Press reports.

The company gave provisional, unaudited figures of net profit of $1.8 billion for the quarter, down from $6.7 billion in the same period a year ago.

Chief executive Ben van Beurden said in a statement the results were "not what I expect from Shell."

Related links:
 Top stories
Aleksei Miller was also scheduled to meet with government officials in Germany, which is a major customer of Gazprom’s supplies.
Access to finance is a major impediment to the growth of micro, small and medium enterprises, especially in the rural areas.
Priority needs will be identified through assessments of economic development potential and prioritization by the communities.
However the proportion of women reaching the top tier of the business world has shown little progress over the past decade.
Partner news