Shell second quarter profit down on lower gas prices

SHELL has reported a fall of US$1.7 billion in profits to $3.5 billion (A$5.14 billion) compared to $5.3 billion last quarter over the three months to June 30, which the Anglo-Dutch oiler blamed on a global economic slowdown and oversupply of LNG in the market.

Shell second quarter profit down on lower gas prices Shell second quarter profit down on lower gas prices Shell second quarter profit down on lower gas prices Shell second quarter profit down on lower gas prices Shell second quarter profit down on lower gas prices

 

The giant's results came in well below expectations despite its major Australian project Prelude shipping its first cargo of LNG, and its Appomattox field in the US Gulf of Mexico starting up