Shell Says Quarterly Earnings Will Fall 48%

Shell's recent results have suffered from a series of factors, some of which are likely to persist.  Unrest in Nigeria has lowered oil and gas production, and the company is losing money in its key Americas exploration and production business, where its multibillion dollar Alaskan drilling program has been plagued by accidents and problems.

Shell has also been hurt by the poor environment for refining crude oil into products like gasoline and diesel, especially in Europe, where demand for gasoline has weakened. Analysts say that nearly all refineries in Europe are losing money because they are unable to sell refined products for more than the cost of crude oil and processing.

Shell Says Quarterly Earnings Will Fall 48%