Jan 17 2014
Royal Dutch Shell's new boss Ben van Beurden today admitted the oil giant's performance was "not what I expect" from the group in 2013 as he issued a shock profit warning just two weeks after taking over at the helm.
Mr Van Beurden - who succeeded Peter Voser as chief executive on January 1 - said the firm's fourth quarter figures were expected to be "significantly lower than recent levels of profitability".
Its fourth quarter underlying earnings are now expected to almost halve to around 2.9 billion US dollars (£1.8 billion).
This is set to leave full year results 23% lower at 19.5 billion dollars (£11.9 billion).
Mr Van Beurden said: "Our 2013 performance was not what I expect from Shell."