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Shell shock as oil giant posts profit warning and expects to make £6BILLION less this year

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Screen Shot 2013-10-01 at 07.56.54Industry experts say Shell had never before issued a profit warning ahead of its full-year earnings as the news wiped a massive £3.9billion off its share price

Oil giant Shell is set to make a staggering £6billion LESS this year, it emerged today.

In a shock profit warning, the mega firm said it had been hit by everything from lower production to higher costs for finding oil and gas.

Oil analyst Neill Morton, at Investec Securities, said Shell had never before issued a profit warning ahead of its full-year earnings. He added: “Shell has broken with its recent custom of disappointing on earnings day – it is now dishing up the bad news ahead of time.”

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