Original article by Perry Williams
The Australian – Page: 13 & 16 : 26-Apr-21
Shell Australia has posted a full-year loss of $US4.9bn ($6.3bn), compared with a loss of just $US661m previously. The latest financial result was marred by a $US6.2bn writedown of the energy giant’s Australian operations due to a sharp fall in the crude oil price in 2020. The Prelude floating LNG venture was the primary cause of the big writedown. Australian LNG producers have now incurred combined writedowns of more than $25bn in the wake of the pandemic.
SHELL COMPANY OF AUSTRALIA LIMITED, ROYAL DUTCH SHELL PLC