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Oil price adds to woes

Shell slumps to loss after failed projects

ShellRoyal 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.

Shell maintained its dividend at 47 cents per share.

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.”

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