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UPDATED 1 Sept: The EI library in London is temporarily closed to the public, as a precautionary measure in light of the ongoing COVID-19 situation. The Knowledge Service will still be answering email queries via email , or via live chats during working hours (09:15-17:00 GMT). Our e-library is always open for members here: eLibrary , for full-text access to over 200 e-books and millions of articles. Thank you for your patience.
Shell makes first quarterly loss in a decade
Shell slumped to its first quarterly loss in 10 years on the back of plummeting oil prices yesterday. But the Anglo-Dutch oil group was still able to report the biggest annual profit in UK corporate history of $31.4bn (£21.9bn) - the equivalent of £2.5m an hour. Jeroen van der Veer, Shell's chief executive, said industry conditions remained 'challenging' and that the company would slow down some of its projects, such as the controversial tar sands operation in Canada, but added that shareholders were still benefiting, with the dividend raised for both the last and the forthcoming quarter.
News Item details
Websites:
http://www.guardian.co.uk
Keywords: Oil - Profits - Oil price
Organisation: Shell|Shell/Royal Dutch
Subjects: Trading, Oil markets, Project Management, Oil, Oil sands
