Royal Dutch/Shell Group said second-quarter profit dropped 39 percent, more than analysts expected, as a slowing economy hurt margins from making gasoline.
Net income declined to $2.21 billion from $3.61 billion a year ago. That equaled 69 euro cents a share at Royal Dutch Petroleum Co. in Amsterdam and 6 pence a share at Shell Transport & Trading Co. in London. Shell shares in London slid as much as 5.1 percent after the result.
An 88 percent plunge in refining margins in Europe was the worst ``in living memory,'' Chairman Philip Watts said in an interview. Bigger rival Exxon Mobil Corp. later today is expected by analysts to report per-share profit fell 28 percent, in part because of the industry's slump.
``If they can't tackle their lower refining margin environment, I don't think anybody else can,'' said Angus McPhail, an analyst at ING Financial Markets with a ``buy'' recommendation on Shell.
A US-based TV channel named curious details about the trials of the new Russian missile, such as, for example, the failed launch in October 2017
During the recent Helsinki summit, Russian President Vladimir Putin offered to hold a referendum in the Donbass. Trump asked not to voice this idea at the press conference
The International Olympic Committee is ready to take Russia back, the head of the organization Thomas Bach said