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Shell's bottom line cut in half

One of the world's largest oil companies, Royal Dutch Shell, is taking a beating under what CEO Ben van Beurden calls "extremely challenging circumstances". The group now makes a historic cut into its dividend.

Photo: Tolga Akmen/AFP/Ritzau Scanpix

It is quite telling that analyst firm Vara Technologies had already set the lowest analyst bid for Shell's first quarter bottom line to USD 412 million – at an almost unprecedented variance relative to the consensus estimate of USD 2.2 billion.

Seen in this light, Shell actually exited this year's first three months with its skin intact, as the oil and gas supermajor presented USD 2.8 billion in earnings measured in Current Cost of Supplies (CCS), Shell's accounting method for profit, shows the company's first quarter interim report published Thursday morning.

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