Shell faces US$22 billion hit from pandemic


Energy giant Royal Dutch Shell says it will take a charge of between US$15 billion and US$22 billion in the second quarter. – EPA pic, June 30, 2020.

ANGLO-DUTCH energy giant Royal Dutch Shell will take a vast second-quarter charge of up to US$22 billion (RM94 billion) due to the coronavirus pandemic and collapsing oil prices, it announced today.

The company, in a statement, said it will face a charge of between US$15 billion and US$22 billion in the second quarter, after reviewing the chronic fallout from the deadly Covid-19 outbreak that crashed global demand for energy.


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