Shell sees profits dip

Eyeing future growth: Shell chief executive Peter Voser

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Josh Lewis

 31 January 2013 07:22 GMT

Anglo-Dutch supermajor Shell posted a fall in profits for 2012 as earnings from the company’s upstream segment fell despite a rise in production.

Shell’s overall income for the year amounted to $26.8 billion, down from a profit of just under $31.2 billion in 2011.

The fall in profits came as the company’s total revenue and other income totaled $481.7 billion for 2012, down from nearly $484.5 billion generated the previous year.

Earnings from Shell’s upstream segment dropped off 9% in 2012, to just under $22.2 billion, with a drop in earnings from Europe and the Americas offsetting rises in other regions.

The largest fall came from the Americas where earnings fell from just under $4.8 billion in…

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