Collapse in oil price hammers Anglo-Dutch giant’s profits as BG takeover looms
Shell has reported an 87% collapse in annual profits to $1.9bn (£1.3bn) despite axing thousands of jobs.
The Anglo-Dutch group, which has just won shareholder approval for a $35bn takeover of rival BG, revealed that quarterly earnings fell by 58% to $939m although the underlying profit of $1.8bn was in the middle of expectations.
Related: BP makes record loss and axes 7,000 jobs
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