Shell to Book $15Bln-$22Bln Impairments After Lowering Price Forecasts
30 Junho 2020 - 03:49AM
Dow Jones News
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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