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Shell's profits take huge dive

As one of the first oil companies, Shell has released interim financial results for the fourth quarter, which show a major decline in profits due to the sliding oil price.

Photo: Alastair Grant/AP/Polfoto

Royal Dutch Shell writes in an update, that the interim financial data for the fourth quarter shows a huge dive in profits due to the decline in the oil price.

Shell projects that the profit, adjusted for one-off items, will land between USD 1.6 and USD 1.9 billion. Analysts, according to Bloomberg News, had expected a profit of USD 1.8 billion, while the result in the same period last year, reached USD 3.3 billion. For the full year 2015 - which put oil companies around the world under severe pressure - Shell expects to land a profit, adjusted for one-off items, of between USD 10.4-10.7 billion. In comparison, Shell achieved a profit in 2014 of USD 14.7 billion.

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