Shell’s net profit in the first quarter fell by almost 10 times

In the first quarter of 2016, the profit Shell made $484 million, almost ten times (89%) less than in the same period in 2015, when this figure amounted to $4,43 billion, follows from the statements of the company.

In annual terms, revenue fell 83%, from $4,761 billion to $814 million

Dividends in the first quarter of this year amounted to $0.47 per ordinary share and $0.94 inch by American Depositary receipts.

Published on Wednesday reporting was the first for Shell after the acquisition in February, British company BG Group for $54 billion. the deal aims to improve the company’s access to the Brazilian deepwater oil fields.

The company said it will spend $30 billion in 2016 on exploration and development of oil and gas fields. Operating costs of the combined company in 2016 will be, according to preliminary estimates, $40 million

Anglo-Dutch Royal Dutch Shell after the acquisition of BG Group became the second largest oil company in the world with capitalization $177 billion.