Photo: Phil Noble / Reuters
One of the world’s largest oil companies, Shell has said it will write off assets worth up to $ 22 billion in the second quarter. Huge losses due to the revision of prices of raw materials. This is stated in the report of the energy giant.
Shell predicts that the price of Brent crude will be at $ 35 per barrel this year and $ 40 next. In 2022 and 2023 they reach 50 and 60 dollars per barrel, respectively. Sales of petroleum products will fall to 3.5-4.5 million barrels per day in the second quarter from a year earlier, the figure was 6.6 million.
The market value of Shell is equal to 126.5 billion dollars. Immediately after the publication of the report, its shares fell 2.3 percent, after which it was slightly corrected.
In April it became known that Shell reduced payments to shareholders for the first time since the Second world war. Net profit of energy companies in the first quarter decreased by 46 percent and amounted to USD 2.9 billion. In the same month, the leadership presented a climate strategy, in which the Shell should reduce the level of harmful emissions to zero by 2050.
Video, photo All from Russia.