Shell reported its Q3 15 results, with a heavy loss of $6.1bn. Adjusted earnings came in at $1.8bn, half the consensus' expectations. Impairment charges of $8bn include $4.61bn resulting from the withdrawal from drilling in Alaska and an oil-sands project in Canada, and $3.69bn triggered by cuts to its outlook for oil and natural gas prices. By division: 1) Upstream adjusted earnings came in negative at $425m, vs. a $4.34bn gain a year ago and a $1bn in Q2 15. Production was 2.9mbpd, up 3% yo

29 Oct 2015
First view: Cleaning up its portfolio

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First view: Cleaning up its portfolio
Shell Plc (SHEL:LON) | 2,742 726.7 1.0% | Mkt Cap: 160,365m
- Published:
29 Oct 2015 -
Author:
Alexandre Andlauer -
Pages:
2 -
Shell reported its Q3 15 results, with a heavy loss of $6.1bn. Adjusted earnings came in at $1.8bn, half the consensus' expectations. Impairment charges of $8bn include $4.61bn resulting from the withdrawal from drilling in Alaska and an oil-sands project in Canada, and $3.69bn triggered by cuts to its outlook for oil and natural gas prices. By division: 1) Upstream adjusted earnings came in negative at $425m, vs. a $4.34bn gain a year ago and a $1bn in Q2 15. Production was 2.9mbpd, up 3% yo