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The company attributed this decision to consequences of the COVID-19 coronavirus pandemic, a slowdown in economic activity, and lower energy prices.
The write-off of the value of assets will fall on three segments of Shell's operations: gas operations, mainly in Australia, at $ 8–9 billion; mining operations, mainly in Brazil and the shale deposits of North America, at $ 4-6 billion; petroleum product operations, at $ 3–7 billion
In this regard, the company believes that the write-offs for the second quarter will have negative consequences on the company's pre-tax figures in the amount of $ 20–27 billion.
After this warning, Shell shares at the Amsterdam Stock Exchange fell by 4%.
source: bloomberg.com
The write-off of the value of assets will fall on three segments of Shell's operations: gas operations, mainly in Australia, at $ 8–9 billion; mining operations, mainly in Brazil and the shale deposits of North America, at $ 4-6 billion; petroleum product operations, at $ 3–7 billion
In this regard, the company believes that the write-offs for the second quarter will have negative consequences on the company's pre-tax figures in the amount of $ 20–27 billion.
After this warning, Shell shares at the Amsterdam Stock Exchange fell by 4%.
source: bloomberg.com
