Royal Dutch Shell sells billions of assets

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Today, the British-Dutch company Royal Dutch Shell announced that in the second quarter it could write off the value of its assets from $ 15 billion to $ 22 billion. The company attributed this to the consequences of the coronavirus COVID-19 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, for $ 8–9 billion; mining operations, mainly in Brazil and the shale deposits of North America – $ 4-6 billion; petroleum product operations – $ 3–7 billion. In this regard, the company believes that the write-offs for the second quarter will have negative consequences for the company’s pre-tax figures of $ 20–27 billion. After this warning, Shell’s shares fell in price at the auction of the Amsterdam Stock Exchange 4%.