Shell's Profits Fall on Declining Oil Prices
May 02 2019 - 7:02AM
Dow Jones News
By WSJ City
Royal Dutch Shell's first-quarter earnings fell on lower returns
from its chemicals and refining operations, but the performance of
its gas trading business saw the oil major fare better than many of
its rivals.
KEY FACTS
--- Shell said first-quarter profit fell almost 7% to
$5.2bn.
--- That compares with $5.7bn in Q4, when Shell posted its
highest profit since 2013.
--- Revenue fell 6.2% to $83.74bn, Shell said.
--- But the Anglo-Dutch giant fared a bit better than its rivals
in Europe and North America.
--- That's partly because its gas-trading business proved to be
robust.
Why This Matters
The world's largest energy firms have taken a hit in the
first-quarter amid geopolitical turmoil and weaker global oil
prices. Exxon said its earnings during the period fell in every
business segment inside and outside the US. Shell's report "was a
standout result out of the Big Five," said Thomas Adolff, the head
of European oil and gas equity research at Credit Suisse.
A fuller story is available on WSJ.com
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(END) Dow Jones Newswires
May 02, 2019 06:47 ET (10:47 GMT)
Copyright (c) 2019 Dow Jones & Company, Inc.
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