LONDON (Reuters) - Royal Dutch Shell's (L:RDSa) profit in the fourth quarter of 2019 fell by nearly 50% to $2.9 billion (2.21 billion pounds), missing forecasts and falling to its lowest in more than three years on weaker oil and gas prices.
CEO Ben van Beurden said the company's intention to complete its $25 billion share buyback programme in 2020 remained "unchanged".
The 48% drop in net income attributable to shareholders, based on a current cost of supplies (CCS) and excluding identified items, compared with a profit forecast of $3.2 billion, a company-provided survey of analysts showed.
Shell's third quarter profits were $4.8 billion.
For 2019, Shell's profit was $16.5 billion, down 23%.