Annual figures likely to be further hit by up to $7bn in writedowns as takeover deadline for rival BG looms
Shell has warned that profits in the fourth quarter may be 50% lower than a year earlier, with write-offs for 2015 as high as $7bn (£5bn).
Underlining the damage being inflicted on the industry by low crude prices, it said on Wednesday it expected earnings to come in at between $1.6bn and $1.9bn and full-year numbers as low as $10.4bn. Shell is first of the large oil companies to report preliminary results for 2015.
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