- Royal Dutch Shell (RDS.A, RDS.B) says it is proceeding with its 100%-owned Carmon Creek project in Alberta, which is expected to produce up to 80K bbl/day of oil.
- More results from Shell's "disappointing" Q3 results: Shell spent $9.7B in the quarter on capital investment, part of ~$45B planned for the year, while return on average capital employed was 10.4% at the end of Q3 vs. 13.5% a year ago.
- Shell continues to suffer problems in the Americas, losing $347M on its E&P business there.
- Earnings at the chemicals and refining unit, led by Ben van Beurden - who will replace outgoing Peter Voser as CEO at year's end - fell 43% to $900M due to "global overcapacity and weak demand."
- Shares -4.4% premarket.