Royal Dutch Shell PLC, Europe’s largest oil company, says third quarter earnings fell due to weaker demand for fuel and a drop in output, particularly in Nigeria, where attacks on pipelines have forced shutdowns.
Earnings on a so-called “current cost of supplies basis”—which strips out the impact of fluctuations of oil prices between when it is produced and when it is sold—fell to $4.25 billion from $6.15 billion in the same quarter a year ago.