(MENAFN) Anglo-Dutch energy giant Royal Dutch Shell, which is acquiring British rival BG Group, posted dropping first-quarter profits on plunging oil prices, Arab News reported.
The company's net profit earnings after tax went down 2 percent, reaching USD4.4 billion in the January-March period compared to the same period a year earlier.
Shell has also revealed that profit, adjusted for one-off items and inventory changes, registered a decline of 56 percent, hitting USD3.2 billion in the reporting period.
"Our results reflect the strength of our integrated business activities, against a backdrop of lower oil prices. Meanwhile, we continue to take steps to further improve competitive performance," CEO said.
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