26 June 2024
Shell quarterly profit down 70% year on year
Publication date: 28 July 2016
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Shell profit was 70% lower year on year to USD 1.2 billion in profits in Q2 2016, amid historically lower energy prices and charges related to its takeover of BG Group, the company said in its quarterly results on Thursday.
“Downstream and Integrated Gas businesses contributed strongly to the results, alongside Shell’s self-help programme. However, lower oil prices continue to be a significant challenge across the business, particularly in the Upstream,” said CEO Ben van Beurden.