Royal Dutch Shell first quarter earnings down 58 percent
LONDON (AP) — Oil company Royal Dutch Shell said first-quarter earnings plunged 58 percent as depressed crude prices create "hugely challenging times" for the energy industry.
The results came after Shell completed a $54 billion takeover of BG Group Plc earlier this year — a deal that increases the company's proven reserves of oil and natural gas by 25 percent.
Oil companies around the world are slashing jobs and postponing investments to adjust to lower energy prices.
