A Shell tanker truck delivers gasoline to a gasoline station, operated by Royal Dutch Shell Plc., in Rotterdam, Netherlands.
Jasper Juinen | Bloomberg | Getty Photographs
Royal Dutch Shell stated on Monday it’ll write down $3.5 to $4.5 billion within the worth of oil and gasoline belongings in 2021, the most recent in a string of impairments this yr because it adjusts to a weaker outlook.
In an replace forward of its fourth-quarter outcomes, the Anglo-Dutch firm stated it expects oil and gasoline manufacturing in its upstream division to be round 2.275 and a couple of.350 million barrels of oil equal per day, impacted by the closure of platforms within the Gulf of Mexico attributable to hurricanes in addition to delicate climate in Northern Europe.
Oil refinery utilization is predicted to be at between 72% and 76% of capability, reflecting continued weak demand because of the coronavirus pandemic.