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Shell’s Q2 profit decreases

by ChemOrbis Editorial Team -
  • 30/07/2015 (10:42)
According to media reports, Shell announced its financial results for the second quarter of 2015. The company’s second quarter profit adjusted for one-time items and inventory changes fell around 38% from $6.1 billion in the second quarter of 2014 to $3.8 billion in the same period of this year. According to a survey conducted by Bloomberg, economists’ preliminary estimates called for a profit of $3.4 billion.

The downturn in oil prices has caused major producers like Shell and BP Plc to reduce spending and defer projects in order to strengthen their balance sheets. Shell, meanwhile, reportedly expects oil prices to return to $90/barrel by 2018.
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