Anglo-Dutch oil giant Royal Dutch Shell (LSE: RDSB) shocked the City with a profit warning last week. Some of the problems it discussed, such as loss-making shale gas projects in America and ongoing issues with oil theft in Nigeria, are not new.
However, Shell is also now making less money from refining (turning oil into other products) and selling petrol. Some of its high-value oil and gas fields have suffered from higher-than-expected costs and have been producing less than hoped too.
Yet it’s always a good idea to watch the City’s reaction to these sorts of warnings, and the [...]
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