Hurricanes add to coronavirus woes in fresh hit on Shell asset values
World’s biggest retailer sees sales remaining the same in fourth quarter from third
21 December 2020 - 11:12
London — Royal Dutch Shell says it will write down the value of oil and gas assets by $3.5bn-$4.5bn after a string of impairments in 2020 as it adjusts to a weaker outlook.
In an update on December 21 ahead of its fourth-quarter results on February 4, Shell said the posttax charge was due in part to impairments on its Appomattox field in the US Gulf of Mexico, the closure of refineries and liquefied natural gas (LNG) contracts...
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