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Shell records a $ 22 billion write-down, predicting a drop in oil and gas prices



LONDON – Royal Dutch Shell PLC is recording the value of its assets up to $ 22 billion due to lower energy prices following the coronavirus pandemic that shook demand.

The write-down follows that of BP PLC on a similar scale earlier this month. The lower oil and gas prices caused by the pandemic and uncertainty about the pace of the transition to low carbon energy have led major oil companies to question the value of their reserves. Exxon Mobil Corp. has resisted pressure from accountants to write down their businesses.


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