Pandemic hammers all parts of Shell’s business

A logo for Royal Dutch Shell Shell is seen on a garage forecourt. Picture: REUTERS/NEIL HALLRoyal Dutch Shell has reported a slew of bad figures across its business, giving investors a first glimpse of just how severely the coronavirus crisis hit Big Oil in the second quarter.

The dire second quarter also threatened to have a lasting legacy, as reductions in long-term price forecasts will force writedowns of $15bn-$22bn to assets all over the world. Oil-product sales volumes will be 3.5-million to 4.5-million barrels a day in the second quarter, down from 6.6-million a year earlier, driven by a “significant drop” in demand because of the pandemic, the oil major said on Tuesday in a statement ahead of quarterly results on July 30.

Indonesia Berita Terbaru, Indonesia Berita utama

Similar News:Anda juga dapat membaca berita serupa dengan ini yang kami kumpulkan dari sumber berita lain.

Pandemic hammers all parts of Shell’s businessEnergy company’s dire second quarter threatens to have a long-lasting effect
Sumber: BDliveSA - 🏆 12. / 63 Baca lebih lajut »

BUSINESS MAVERICK: Gold price near eight-year highs as pandemic boosts safe-haven appealThe Covid-19 pandemic, the lockdown measures to contain it and the policies taken to stimulate reeling economies have boosted the fortunes of gold. The precious metal may hold its newfound glitter for the remainder of the year, but a collapse in demand from jewellers, industry and central banks could contain gains.
Sumber: dailymaverick - 🏆 3. / 84 Baca lebih lajut »