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Shell to take asset hit of up to £18bn on lower oil and gas prices

Shell to take asset hit of up to £18bn on lower oil and gas prices

Shell said that it expects to book impairment losses of up to £18bn in Q2 after slashing expectations for oil and gas prices. The company, also said that global lockdown resulted 40% slump in fuel sales. The company said the asset write downs were based on weaker oil and gas price assumptions up to 2022 and also reflected its plans to reduce greenhouse gas emissions to net zero by 2050.

Gaurav
Gaurav
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