Shell warns of coronavirus uncertainties and oil volatility

Mar 31, 2020

Royal Dutch Shell said today that it has been facing “significant uncertainties” linked to the coronavirus pandemic and the recent volatility in oil prices, but that it has strong liquidity to overcome crises.

The Anglo-Dutch oil company expects a write-off of $ 400 million to $ 800 million in the first quarter due to oil fluctuations.

The company also expects its refining margins to drop in the first quarter from the previous quarter, but stressed that its sales margins remain strong, despite the pandemic.

Shell also said it could leverage a total of $ 40 billion in liquidity.

Source: Dow Jones Newswires,

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