Shell plunges to $6bn loss as virus hits

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.

CORPORATES
SHELL COMPANY OF AUSTRALIA LIMITED, ROYAL DUTCH SHELL PLC

Leave a Reply

Fill in your details below or click an icon to log in:

WordPress.com Logo

You are commenting using your WordPress.com account. Log Out /  Change )

Google photo

You are commenting using your Google account. Log Out /  Change )

Twitter picture

You are commenting using your Twitter account. Log Out /  Change )

Facebook photo

You are commenting using your Facebook account. Log Out /  Change )

Connecting to %s