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Shell delivers weakest result since 2004

Not since 2004 has Shell made such a small profit. The company is in the midst of a large-scale overhaul aimed at boosting earnings under the low oil price that makes major oil reserves unprofitable to extract.

Photo: Alastair Grant/AP/Polfoto

The oil price is hurting Royal Dutch Shell, which just published its annual report for 2015. The cold figures show a full-year profit of USD 3.8 billion against USD 19 billion last year.

Not only is this the weakest result since an accounting scandal in 2004 - when the company had to impair the value of its energy reserves - the low price also has a severe negative impact on Shell's oil and gas reserves.

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