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
Sign up to access
Get access to our full offering from over 100 providers
Get access to our full offering from over 100 providers
First view: Cleaning up its portfolio
Shell Plc (SHEL:LON) | 2,838 -99.3 (-0.1%) | Mkt Cap: 163,957m
- 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