Arab Today, arab today shell profits ease slightly as it weathers oil price fall
Last Updated : GMT 02:14:22
Arab Today, arab today
Arab Today, arab today

Shell profits ease slightly as it weathers oil price fall

Arab Today, arab today

Arab Today, arab today Shell profits ease slightly as it weathers oil price fall

Royal Dutch Shell
London - AFP

Energy giant Royal Dutch Shell, which is buying British rival BG Group, announced Thursday that first-quarter net profits fell by just two percent as it weathered sliding oil prices.

Profit after tax dropped to $4.4 billion (4.0 billion euros) in the three months to the end of March compared with the Anglo-Dutch company's performance one year earlier.

"Our results reflect the strength of our integrated business activities, against a backdrop of lower oil prices," said chief executive Ben van Beurden in a results statement.

"Meanwhile, in what is clearly a difficult industry environment, we continue to take steps to further improve competitive performance by redoubling our efforts to drive a sharper focus on the bottom line in Shell."

So far this year, Shell has sold non-strategic assets worth more than $2.0 billion as it seeks to combat the impact of tumbling world oil prices.

The company added on Thursday that it continues to reduce its operating costs and capital spending, and has deferred and reshaped new projects in order to achieve further efficiencies and savings.

Shell had last month unveiled a mega-takeover of BG Group worth £47 billion, as the two firms consolidate their positions in a sector slammed by the oil price slump.

"Looking ahead, the proposed combination with BG ... would create a stronger company for both sets of shareholders," added van Beurden.

"The combination with BG would accelerate Shell's growth strategy in deep water and liquefied natural gas, and create a springboard for further optimisation of our asset base."

The new company will be worth twice the value of BP and overtake US energy giant Chevron Corp. upon finalising the sector's biggest deal in a decade.

Crude oil prices lost more than half their value between last June and January owing to a supply glut fuelled largely by robust output from US shale rock and weak global demand.

arabstoday
arabstoday

GMT 21:21 2017 Thursday ,19 October

Shaikh Nasser praises BIDEC 2017 royal patronage

GMT 20:39 2017 Thursday ,19 October

Tesla fired hundreds of employees in past week

GMT 13:46 2017 Thursday ,19 October

Samsung's revamped Bixby takes on Amazon Alexa

GMT 21:35 2017 Wednesday ,18 October

King congratulated by Premier on BIDEC success

GMT 21:27 2017 Wednesday ,18 October

Shaikh Nasser praises Derasat efforts

GMT 11:54 2017 Wednesday ,18 October

Airbnb rentals boom across Africa

GMT 18:06 2017 Tuesday ,17 October

Three companies offering to search for MH370

GMT 19:24 2017 Sunday ,15 October

Royal Jordanian eyes operating profit this year
Arab Today, arab today
Arab Today, arab today

Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

Arab Today, arab today shell profits ease slightly as it weathers oil price fall Arab Today, arab today shell profits ease slightly as it weathers oil price fall

 



Name *

E-mail *

Comment Title*

Comment *

: Characters Left

Mandatory *

Terms of use

Publishing Terms: Not to offend the author, or to persons or sanctities or attacking religions or divine self. And stay away from sectarian and racial incitement and insults.

I agree with the Terms of Use

Security Code*

Arab Today, arab today shell profits ease slightly as it weathers oil price fall Arab Today, arab today shell profits ease slightly as it weathers oil price fall

 



Arab Today, arab today
Arab Today, arab today Designer Aql Faqih aspires to innovation

GMT 18:41 2017 Friday ,20 October

Designer Aql Faqih aspires to innovation
Arab Today, arab today Barcelona through George Orwell’s eyes

GMT 13:44 2017 Friday ,20 October

Barcelona through George Orwell’s eyes
Arab Today, arab today Etiquette expert underlines importance of gifts

GMT 17:52 2017 Sunday ,03 September

Etiquette expert underlines importance of gifts
Arab Today, arab today Tillerson heads to Gulf, downbeat

GMT 09:23 2017 Friday ,20 October

Tillerson heads to Gulf, downbeat
Arab Today, arab today Hiring not part of Alibaba pledge

GMT 11:26 2017 Wednesday ,18 October

Hiring not part of Alibaba pledge
Arab Today, arab today
Arab Today, arab today
Arab Today, arab today World's deepest lake in peril

GMT 15:54 2017 Friday ,20 October

World's deepest lake in peril
Arab Today, arab today Ex-French minister Dati wants tough action

GMT 10:54 2017 Thursday ,19 October

Ex-French minister Dati wants tough action
Arab Today, arab today Delhi braces for pollution 'airpocalypse'

GMT 16:07 2017 Friday ,20 October

Delhi braces for pollution 'airpocalypse'
Arab Today, arab today The history of solar eclipses

GMT 05:16 2017 Sunday ,20 August

The history of solar eclipses
Arab Today, arab today Sweden to get biggest car factory

GMT 14:10 2017 Friday ,20 October

Sweden to get biggest car factory
Arab Today, arab today Mercedes says recalls 400,000 UK cars

GMT 06:56 2017 Tuesday ,17 October

Mercedes says recalls 400,000 UK cars
Arab Today, arab today Actress Shery Adel happy for Egypt’s qualification

GMT 08:57 2017 Wednesday ,18 October

Actress Shery Adel happy for Egypt’s qualification
Arab Today, arab today Massacre fears spark race

GMT 19:09 2017 Thursday ,19 October

Massacre fears spark race

GMT 07:47 2017 Tuesday ,17 October

Hussein Fahmy happy for honoring in festival

GMT 18:15 2017 Monday ,16 October

British actress becomes fifth woman

GMT 16:53 2017 Tuesday ,05 September

Youssra depended on colored foam

GMT 16:00 2017 Wednesday ,18 October

Climate-disrupting volcanoes helped topple

GMT 10:46 2017 Saturday ,05 August

Nanis reveals simple ideas for home renovation

GMT 06:43 2017 Wednesday ,18 October

Fake dentists ply brisk trade

GMT 06:49 2017 Tuesday ,17 October

EasyJet, Lufthansa among seven to bid

GMT 17:12 2017 Monday ,07 August

Al-Shawaifi reveals secrets of total solar eclipse

GMT 20:46 2017 Thursday ,19 October

Qualcomm files lawsuits in China to ban iPhones

GMT 16:53 2017 Saturday ,02 September

Mai importance of gifts during Eid Al-Adha
Arab Today, arab today
Arab Today, arab today
 
 Arab Today Facebook,arab today facebook  Arab Today Twitter,arab today twitter Arab Today Rss,arab today rss  Arab Today Youtube,arab today youtube  Arab Today Youtube,arab today youtube
arabstoday arabstoday arabstoday arabstoday
arabstoday arabstoday arabstoday
arabstoday
بناية النخيل - رأس النبع _ خلف السفارة الفرنسية _بيروت - لبنان
arabstoday, Arabstoday, Arabstoday