Royal Dutch-Shell, the world’s second-largest oil company,...
Royal Dutch-Shell, the world’s second-largest oil company, said that tumbling prices caused second-quarter earnings to fall 16%, compared to a year earlier. The results are distorted when converted into dollars because of the U.S. currency’s decline in value against the pound and guilder over the past year. The company said the sharp drop in oil prices caused its stored oil to lose $547 million in value during the second quarter. Exploration and production earnings also dropped.
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