Shell profits drop by a third in Q3 as costs rise

Royal Dutch Shell has seen a $2bn (£1.25bn) drop in third-quarter profits as costs across the business have soared.

Earnings at the oil giant fell from $6.2bn to $4.2bn in the third quarter following rising operating, exploring and maintenance expenses. The group also said it is seeing lower profits from its refinery business and continuing security problems in Nigeria, where it has operations. However, the firm has committed to paying a dividend of $0.45 in the third quarter, $0.02 up from the equivalent dividend last year. The announcement follows just days after its rival BP announcement forecast-beating results and a hike in its dividend. The oil giant kicked off results season in the sec...