HomeLatest ThreadsGreatest ThreadsForums & GroupsMy SubscriptionsMy Posts
DU Home » Latest Threads » Forums & Groups » Main » Latest Breaking News (Forum) » Shell writes down oil and...

Tue Jun 30, 2020, 07:12 AM

Shell writes down oil and gas assets by $22 billion

Source: AP

LONDON (AP) — Energy producer Royal Dutch Shell warned Tuesday it will slash the value of its assets by $22 billion to account for lower oil and gas prices amid the COVID-19 pandemic.

The company predicted the write-down for the quarter and said it continues “to adapt to ensure the business remains resilient” in challenging times. Earlier this month, its competitor BP, also cut the value of its own assets by up to $17.5 billion.

Shell predicted prices for Brent crude, the international oil benchmark, would be at $50 dollars a barrel in 2022. Earlier it had predicted a price of $60 a barrel. On Tuesday, it was trading near $41 a barrel.

Read more: https://apnews.com/0d7adddd9a596eba2f34b736fce1f030

1 replies, 583 views

Reply to this thread

Back to top Alert abuse

Always highlight: 10 newest replies | Replies posted after I mark a forum
Replies to this discussion thread
Arrow 1 replies Author Time Post
Reply Shell writes down oil and gas assets by $22 billion (Original post)
Omaha Steve Jun 30 OP
Yeehah Jun 30 #1

Response to Omaha Steve (Original post)

Tue Jun 30, 2020, 04:27 PM

1. I have a move coming up in 2 months

I hope gas goes in the basement. Friggin uhaul trucks get 10mpg.

Reply to this post

Back to top Alert abuse Link here Permalink

Reply to this thread