Shell Q2 net profit drops 70%, with more job cuts on the horizon

摘要

Shell today announced a 70% drop in second quarter profits, due to lower oil prices and refinery margins, and decreasing global energy demand. The company said that conditions in the energy industry were likely to “remain challenging” and that further job cuts were likely.Shell's earnings, measured on a current cost of supplies basis, slumped to $2.3 billion (￡1.4 billion) in the second quarter, from $7.9 billion a year ago. Excluding one-off items earnings were $3.15 billion.