Shell warned that third-quarter profits would be dented after it weathered a sharp rise in refining costs and weaker earnings from natural gas trading. The firm has been raking in record profits this year but said that earning would fall in the third quarter, as indicative refining margins dropped to $15 a barrel compared with $28 a barrel in the previous three months.
Shell’s third quarter liquefied natural gas (LNG) and gas trading results are also expected to be “significantly lower”, the firm said in a statement, due to lower…Shell Warns Weak Earnings From Gas Trading Could Impact Profits
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