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Royal Dutch Shell says net profit slides 89% in Q1

Royal Dutch Shell said profit after tax stood at $484 million in the January-March period, down from $4.43 billion in the first quarter of 2015

Royal Dutch Shell on Wednesday announced an 89-percent drop in net profit for the first quarter, blamed on slumping oil prices.

Profit after tax stood at $484 million in the January-March period, down from $4.43 billion in the first quarter of 2015, the Anglo-Dutch energy group said in an earnings statement.