A car enters a Shell petrol station in Manchester, England, May 15, 2013. THE CANADIAN PRESS/AP, Jon Super
January 16, 2014 - 11:55 PM
AMSTERDAM - Royal Dutch Shell PLC has issued a profit warning for the fourth quarter.
It says results will be worse than most analysts are expecting due to a mix of lower than expected production, higher than expected costs, and a worse than expected performance by its refining division.
The company gave provisional, unaudited figures of net profit of $1.8 billion for the quarter, down from $6.7 billion in the same period a year ago.
Chief executive Ben van Beurden said in a statement the results were "not what I expect from Shell."
News from © The Associated Press, 2014