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Shell's profit plunges as oil prices slump

Jan. 20, 2016 3:35 AM ETShell plc (SHEL) StockSHEL, BRGYY, BRGXFBy: Yoel Minkoff, SA News Editor23 Comments
  • Royal Dutch Shell's (RDS.A, RDS.B) profit fell by as much as 50% in the fourth quarter compared with the same period in 2014, illustrating how the slump in oil prices is wreaking havoc on the energy industry.
  • Profit adjusted for one-time items and inventory changes is expected to be between $1.6B-$1.9B (from $3.3B), while profit for the year on the same basis is predicted to have fallen between $10.4B-$10.7B (from $22.6B).
  • Another looming question is whether shareholders will approve Shell's $49B takeover of the BG Group (OTCQX:BRGYY). The oil major expects the deal to conclude in "a matter of weeks."

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