Shell profits plunge by a third on weaker oil and gas prices
UK energy major’s chief describes conditions as ‘challenging on all fronts’
UK energy major’s chief describes conditions as ‘challenging on all fronts’

FTSE 100 energy company boosted by gas trading rebound and launch of Canada LNG project

Drop in oil prices drags second-quarter earnings to lowest level since pandemic

Lay-offs mark ‘flashing red warning light’ for industry as executives brace for downturn that may last years

Future of UK oil major has been an open question for months as its shares have continued to slide

Job losses at US major are latest affecting the sector hit by mounting costs and Opec’s higher output

Chief executive Wael Sawan has been focused on improving Shell’s financial performance and share buybacks