Royal Dutch Shell Profits in Q3 Slashed 32%

(MENAFN- Qatar News Agency) Royal Dutch Shell announced Friday that its third quarter profits have gone down by 32% year-on-year. The oil giant recorded profits of $4.2 billion, compared to $6.2 billion in the same period of 2012 Chief Executive Peter Voser said in a statement today that a host of problems including rising costs in both production and finding operations in the main oil and gas division, pipeline outages in Nigeria and weaker industry refining conditions Voser noted however that Shell has a host of projects starting 2014, mainly related to finding new oil and gas fields Shell produced 2931 barrels a day in the third quarter of 2013, compared to 2982 in the same period of last year.