Crisis: Shell will write off accounting of up to US$ 22 billion

On Tuesday (22), the oil company Shell announced that it will make a write-off of assets worth up to 22 billion dollars. The reason would be the coronavirus crisis that hit demand for oil and gas, and weakened prices.

It is worth remembering that, recently, the company decided to invest in the energy transition and reduce its carbon emissions to zero by the year 2050. The announcement was made by the company's president in April this year.

Because of global locomotion restrictions aimed at reducing contamination by the virus, about 4 billion people have had their travels affected. This factor also resulted in the removal of cars and airplanes from the routes, reducing the demand for fuels.

Shell, the global fuel sales leader, said it expected a 40 percent drop in second-quarter sales compared to the same period in 2019.


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