Oil price adds to woes
Shell slumps to loss after failed projects
Royal Dutch Shell slumped to a $6.1 billion loss (2014: $5.3bn profit) after taking an $8.2 billion (£5.4bn) charge which included write-offs in its failed projects in Alaska and Canada.
Chief Executive Ben van Beurden said in a statement: “These charges reflect both a lower oil and gas price outlook and the firm steps we are taking to review and reduce Shell’s longer-term option set,
“These are difficult, but impactful decisions. I am determined that Shell will become a more focussed and competitive company as a result.”