Shell takes USD 2.3 billion hit, exposing supermajors’ macroeconomic frailty

摘要

Royal Dutch Shell has become the latest energy supermajor to suffer a heavy impairment after alerting the market to a write-down of up to USD 2.3 billion in Q4’19 results, citing a “weak macro environment”. The hit comes despite a hike in Q4 production volumes, underscoring the limited options available to oil and gas companies to insulate themselves from a volatile global economy and soft commodity prices.