Shell’s Q4 profit drops
Published by Joseph Green,
Editor
LNG Industry,
Reuters is reporting that Royal Dutch Shell plc has reported that its Q4 current cost of supplies stands at US$1.03 billion, down 44% from US$1.84 billion from the same period a year ago.
Profit adjusted for one-time items and inventory changes dropped to US$1.6 billion to US$1.9 billion. That compares with the profit of US$3.3 billion a year earlier.
Earnings attributable to Shell’s shareholders were US$3.5 billion compared with US$3.8 billion in 2015. Excluding identified items, full-year earnings were US$7.2 billion compared with US$11.4 billion in 2015.
Total revenue and other income for the quarter increased to US$64.77 billion from last year's US$58.15 billion.
"Earnings were impacted by charges of US$0.5 billion related to deferred tax reassessments which were not included as identified items," the company said.
Read the article online at: https://www.lngindustry.com/liquid-natural-gas/02022017/shells-q4-profit-drops/
You might also like
IEEFA: Tidal wave of new LNG supply to flood market amid demand uncertainty
Sluggish demand growth for LNG, combined with a record increase in global export capacity through 2028, will likely thrust markets into an extended period of oversupply, according to the latest Global LNG Outlook from the Institute for Energy Economics and Financial Analysis.