Oil Companies Recording Profit Fall
The oil and gas explorer BG Group that was sold to Shell, reported fall in profit by 62 percent in the first quarter of 2015, which is the result of collapsed oil prices. According to official data BG Group pretax profit was $715 million compared with $1.9 billion in the same period a year earlier, Ibtimes reports.
The company has agreed to be sold to Shell for £45.3 billion that is going to complete next year. It is continuing to operate independently until the deal with Shell is complete, which is expected to be done in 2016.
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