Royal Dutch Shell Chief Executive Officer Peter Voser commented:
“Our fourth quarter results were impacted by a sharp downturn in industry refining margins and North American natural gas prices. The global economy and energy markets are likely to see continued high volatility. Despite the near-term uncertainties, Shell's focus remains on through-cycle investment for sustainable growth.
I am pleased with our delivery in 2011, focusing on improving our operating performance and ramping up our growth projects. We have made good progress with portfolio development during 2011, with new opportunities in global gas, liquids-rich shales and exploration, alongside some $7.5 billion of divestments as part of Shell's drive for on-going capital efficiency and portfolio improvement.”