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SHEL Shell Plc

2,858.50
-14.50 (-0.50%)
03 May 2024 - Closed
Delayed by 15 minutes
Share Name Share Symbol Market Type Share ISIN Share Description
Shell Plc LSE:SHEL London Ordinary Share GB00BP6MXD84 ORD EUR0.07
  Price Change % Change Share Price Bid Price Offer Price High Price Low Price Open Price Shares Traded Last Trade
  -14.50 -0.50% 2,858.50 2,855.50 2,856.50 2,881.50 2,846.00 2,872.00 5,507,824 16:35:05
Industry Sector Turnover Profit EPS - Basic PE Ratio Market Cap
Crude Petroleum & Natural Gs 316.62B 19.36B 2.9802 9.58 185.55B

Shell to Book $15Bln-$22Bln Impairments After Lowering Price Forecasts

30/06/2020 7:49am

Dow Jones News


Shell (LSE:SHEL)
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From May 2019 to May 2024

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By Jaime Llinares Taboada

 

Royal Dutch Shell PLC said Tuesday that it expects to book post-tax impairments of between $15 billion and $22 billion in the second quarter after it revised lower its oil and gas mid- and long-term price expectations.

The British-Dutch oil giant said that the revised commodity prices and refining margin outlooks reflect the expected effects of the coronavirus pandemic and related macroeconomic, as well as energy market demand and supply fundamentals.

Shell now sees the long-term Brent oil price at $60 per barrel, and the Henry Hub gas price at $3.0 per million British thermal units. In addition, average long-term refining margins have been lowered by around 30%.

The company said that $8 billion to $9 billion impairments are related to its integrated gas division, whereas $4 billion-$6 billion relate to the upstream business, and $3 billion-$7 billion to the oil products unit.

 

Write to Jaime Llinares Taboada at jaime.llinares@wsj.com; @JaimeLlinaresT

 

(END) Dow Jones Newswires

June 30, 2020 02:34 ET (06:34 GMT)

Copyright (c) 2020 Dow Jones & Company, Inc.

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