Business
Europe’s largest oil company by market capitalization, warned on Friday that results for the fourth quarter of 2013 were “expected to be significantly lower than recent levels of profitability.” The company said earnings for the quarter, adjusted for one-time charges and inventories, would shrink to $2.9 billion, a 48% decline compared with the same period a year earlier. Royal Dutch Shell had reported a 32% decline in third quarter profits with earnings of $4.5 billion compared to $6.5 billion a year ago.
Background
Royal Dutch Shell Issues Profit Warning [WSJ]
Sea-Change Needed at Shell [WSJ]
Shell warns of "significant" profit miss [Reuters]
