(Bloomberg) — Royal Dutch Shell Plc will write down between $15 billion and $22 billion in the second quarter, as the company gave investors a wider glimpse of just how severely the coronavirus crisis has hit Big Oil.The pandemic left no part of the energy giant’s sprawling business unscathed. Oil production slowed, fuel sales fell and shipments of everything from liquefied natural gas to petrochemicals suffered.The dire second quarter also threatened to have a lasting legacy, as reductions in long-term price forecasts will force writedowns on the value of assets all over the world, with its integrated gas business taking …read more
Source:: Yahoo Finance
