Weaker Oil Prices Hit Shell Profits -- Finspreads
LONDON, Jan 31, 2013 (Menafn - MARKETWIRE via COMTEX) --Finspreads: Annual profits for oil company Royal Dutch Shell havefallen to 27 billion (GBP 17 billion), a drop in comparison to the28.6 billion made in 2011.
The retreat comes despite Shell's profits for the last three monthsrising from 6.5 billion to 7.3 billion, but the company was hit bythe fall in oil prices throughout last year.
In a statement released on its website, Shell's chief executivedescribed 2012 as a year of "headwinds," adding that the company is"delivering a strategy that others can't easily repeat."
Shell actually increased its output during last year, with 2012 beingthe first year it sold more gas than oil in its history, and hasalready stated an intention to press on with plans to deliver moreoil and gas, despite the difficult financial climate in many regionsacross the world.
At 1010GMT Shell's shares were valued on the FTSE 100 at 2277.50p, afall of 1.21 per cent.
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SOURCE: Finspreads
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