Shell, which has a market value of $126.5 billion, said in an update ahead of its second-quarter results on July 30 that it will take an aggregate post-tax impairment charge in the range of $15 to $22 billion in the quarter.
LONDON: Royal Dutch Shell on Tuesday said it will write $22 billion off the value of its assets after sharply lowering its oil and gas price outlook in the wake of the coronavirus pandemic.
The decision also comes as the Anglo-Dutch company reviews its operations after CEO Ben van Beurden laid out plans in April to reduce greenhouse gas emissions to net zero by 2050.
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