Oil companies wipe $87bn off the value of their fossil fuel assets in nine months

📆 18/08/2020 20.43.00
📰 The Independent

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With oil prices expected to stay low, big producers are grappling with lower profits and the prospect of a quicker transition to renewable energy

Royal Dutch Shell, BP, Total, Chevron, Repsol, Eni and Equinor have written down their oil and gas assets by $87bn over the past nine months, with $55bn coming in the latest financial quarter, analysis by climate think tank Carbon Tracker found.

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