Shell's profit slides 71% in 2020 as pandemic bites

London

ROYAL Dutch Shell's profit last year dropped to its lowest in at least two decades as the coronavirus pandemic hit energy demand worldwide, but the company said it expects to raise its dividend again in a sign of confidence.

Shell's oil and gas production and profit from refining crude into fuels dropped sharply last year, but it was able to avoid the huge losses of its rivals, thanks to strong trading operations and sales at its network of more than 45,000 petrol stations, where it also has convenience stores.