Oil company reveals quarterly loss of $7.4bn but refining and marketing business provide strength for cash flow
Shell has revealed the $8bn (£5.2bn) cost of scrapping Arctic drilling, abandoning a huge Canadian tar sands project and preparing itself for continued low oil prices.
The charges, which sent the company to a quarterly loss of $7.4bn, included a $2.6bn write-off for withdrawal from the Alaskan Arctic and an additional $2bn charge on the Carmon Creek oil sands project in Canada, where the company suspended building on Tuesday.
Related: Shell halts Carmon Creek oil sands project in Alberta, Canada