Shell has biggest loss in more than a decade

Royal Dutch Shell reported its biggest net loss in more than a decade after halting some operations and lowering its oil-price expectations, resulting in a $7.89 billion (€7.14bn) charge.

The company, which is buying BG Group in the industry’s largest deal this year, reported a third-quarter net loss of $7.42bn, compared with a profit of $4.46bn a year earlier.

The charges include $4.61bn resulting from the withdrawal from drilling in Alaska and an oil-sands project in Canada, and $3.69bn triggered by cuts to its outlook for oil and natural gas prices.