Write-downs, explained:
When companies write down their assets it means they're acknowledging that those assets are worth less than the value they originally ascribed to them.The write-downs are another example of the pandemic's toll on the oil and gas industry. They're also a sign that these companies are preparing for a lower-carbon economy.
The pandemic has gutted demand for oil, sending the price-per-barrel tumbling. Cheap oil and an outlook of lower demand makes oil-related assets less valuable.it expects the transition to low-carbon energy to accelerate in the wake of the pandemic when it announced the write-downs.: "The Refining asset valuation updates reflect Shell's strategy to reshape and focus its refining portfolio to support the decarbonization of its energy product mix.
In the note, Goldman analysts also shared their top stock picks for integrated oil companies and refiners, which turn crude into fuel and other products.
Hmmmm
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:
Nigeria Nigeria Latest News, Nigeria Nigeria Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Inside the path to Dun & Bradstreet's $1.7 billion IPO - Business InsiderBusiness Insider is a fast-growing business site with deep financial, media, tech, and other industry verticals. Launched in 2007, the site is now the largest business news site on the web. Check out our article of a SoftBank company IPO tomorrow
Source: BusinessInsider - 🏆 729. / 51 Read more »
Inside Montenegro's Aman Sveti Stefan, where the rich vacation - Business InsiderBusiness Insider is a fast-growing business site with deep financial, media, tech, and other industry verticals. Launched in 2007, the site is now the largest business news site on the web. For each virus headline, two more virus headlines grow. COVID19 is like the mythical monster Hydra. i stayed here back in 2018, it is amazing and worth every penny!!! 🥰🥰
Source: BusinessInsider - 🏆 729. / 51 Read more »
Inside Chinese smartphone giant Vivo's 32-floor tower HQ - Business InsiderBusiness Insider is a fast-growing business site with deep financial, media, tech, and other industry verticals. Launched in 2007, the site is now the largest business news site on the web. They said they gonna built this in Delhi. They betrayed me. vivopakistan you should consider this as well & it's not impossible.
Source: BusinessInsider - 🏆 729. / 51 Read more »
Exxon's investment in algae-based biofuels with Synthetic Genomics - Business InsiderBusiness Insider is a fast-growing business site with deep financial, media, tech, and other industry verticals. Launched in 2007, the site is now the largest business news site on the web.
Source: BusinessInsider - 🏆 729. / 51 Read more »
Stock market outlook, picks for 11 sectors from top-ranked analysts - Business InsiderBusiness Insider is a fast-growing business site with deep financial, media, tech, and other industry verticals. Launched in 2007, the site is now the largest business news site on the web. How to do accurate and precision forecast besides using the historical data? anyone who is sleeping on SPCE stock is going to regret it. Huge potential and a steal of a price right now.
Source: BusinessInsider - 🏆 729. / 51 Read more »
Oil rises after drop in U.S. crude stocks suggests demand pickupOil prices rose more than 1% on Wednesday after data showed crude inventories in the United States fell much more than expected, suggesting demand is improving even as the coronavirus outbreak spreads around the world. In other news Twitter stock continues to dive even though the NASDAQ hit a record high and the Dow Jones has nearly recovered from a 'pandemic' shut down What changed from “ news “ 28 hours ago . All BS !
Source: Reuters - 🏆 2. / 97 Read more »