The Anglo-Dutch company however warned of the continued impact of the pandemic on oil and natural gas prices and sales in the third quarter
LONDON: Royal Dutch Shell avoided its first quarterly loss in recent history helped by its trading business but announced nearly US$17bil in impairment charges reflecting its lowered short-term oil and gas price outlook.
Shell had warned last month it was set to slash the value of its oil and gas assets by up to US$22bil after the coronavirus crisis hit energy demand and weakened the outlook.
Already a subscriber? Log in.
Limited time offer:
Just RM5 per month.
Cancel anytime. No ads. Auto-renewal. Unlimited access to the web and app. Personalised features. Members rewards.
Follow us on our official WhatsApp channel for breaking news alerts and key updates!
