Energy giant Shell takes $15-22 bn coronavirus hit

Energy giant Shell takes $15-22 bn coronavirus hit

Anglo-Dutch oil giant Royal Dutch will take a vast second-quarter charge of $15-22 billion (13.3-19.6 billion euros) on coronavirus and the subsequent collapse in oil prices, it said Tuesday

London, (UrduPoint / Pakistan Point News – 30th Jun, 2020 ):Anglo-Dutch oil giant Royal Dutch will take a vast second-quarter charge of $15-22 billion (13.3-19.6 billion euros) on coronavirus and the subsequent collapse in oil prices, it said Tuesday.

“Shell has revised its mid and long-term price and refining margin outlook reflecting the expected effects of the COVID-19 pandemic and related macroeconomic as well as energy market demand and supply fundamentals,” it said in a statement outlining the news.

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