Offshore

Shell profit falls short as rising crude costs sap refining

Profits at oil major Shell came a billion dollars short of analyst estimates. Crude oil prices have recovered some, but major oil companies are still facing tough times.
Photo: Royal Dutch Shell PR
Photo: Royal Dutch Shell PR
BY RAKTEEM KATAKEY, BLOOMBERG

Royal Dutch Shell Plc reported fourth-quarter profit that missed analyst estimates after crude’s recovery drove up costs for refining while earnings from production did little more than break even.

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