| After two years of spending cuts, canceled projects and tens of thousands of layoffs, Europe’s biggest energy companies are still struggling to cope with a prolonged oil-price rout.
Royal Dutch Shell PLC Thursday reported a 93% drop in profit and rocketing debt for its most recent quarter, sending shares down sharply. Smaller peers such as France’s Total SA and Spain’s Repsol SA also booked lower profits Thursday, while rivals BP PLC and Statoil ASA announced similarly grim results earlier in the week...............................................Full Article: Source
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