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Royal Dutch Shell Plc (RDS.A) Ben van Beurden on Q3 2015 Results - Earnings Call Transcript

Operator

Welcome to the Royal Dutch Shell Q3 Results Announcement Call. There will be a presentation followed by a Q&A session.

I would like to introduce you to your host, Mr. Ben van Beurden.

Ben van Beurden - Chief Executive Officer & Executive Director

Okay, thank you, operator. Ladies and gentlemen, welcome to today's presentation. So we've announced our third quarter results this morning and you would have seen some substantial headline losses on your screen this morning. There are significant one-time charges in these figures which are a consequence of actions that the Shell management team are taking on portfolio as well as, of course, the impact of lower oil prices. So what I wanted to do is to update you on that, and then Simon will take you through the numbers and, of course, there's plenty of time for questions afterwards.

Before we start, of course, the disclaimer statement. So Shell current cost of supply earnings for the quarter were a loss of $6 billion and these results included $7.9 billion of identified items and around half of these charges, $3.7 billion to be precise, are primarily related to a revised oil and gas price outlook and the remainder, $4.2 billion, is a...


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