Image: Royal Dutch ShellRoyal Dutch Shell has reported a loss for the third quarter after it halted a number of major projects.
The oil giant posted a loss of $6.1 billion (£4bn), compared with a profit of $5.3bn in the same period last year.
Shell took a charge of $8.6bn in the costs associated with halting major projects like drilling in Alaska. It took the decision to scrap those projects as a result of continuously low oil prices. Now at around $50 per barrel, oil prices were more than double that level last summer.
On Tuesday, Shell confirmed that it would not continue with the Carmon Creek thermal oil sands project in Canada.
Chief executive Ben van Beurden said: "I am determined that Shell will become a more focused and competitive company as a result."
