The company reported clean net income well below expectations at €1bn vs. $2.2bn expected, and compared to $3.8bn reported last year. By division: 1) Integrated gas’s clean income was down 38% yoy to $868m. The fall in oil and LNG prices explain the decrease. But there were also higher depreciation charges including a step-up resulting from the BG acquisition. The consolidation resulted in higher operating expenses. Production in Q2 16 was up from 604kbpd last year to 880kbpd with
28 Jul 2016
First view: Disappointing in all divisions; Production under pressure
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First view: Disappointing in all divisions; Production under pressure
Shell Plc (SHEL:LON) | 2,852 270.9 0.3% | Mkt Cap: 182,685m
- Published:
28 Jul 2016 -
Author:
Alexandre Andlauer -
Pages:
3
The company reported clean net income well below expectations at €1bn vs. $2.2bn expected, and compared to $3.8bn reported last year. By division: 1) Integrated gas’s clean income was down 38% yoy to $868m. The fall in oil and LNG prices explain the decrease. But there were also higher depreciation charges including a step-up resulting from the BG acquisition. The consolidation resulted in higher operating expenses. Production in Q2 16 was up from 604kbpd last year to 880kbpd with