Shell books $18 billion loss on huge impairment charges

Oil major Shell booked a loss of $18.1 billion in the second quarter of 2020 due to huge impairments as it cut its price outlook in response to the coronavirus pandemic and the oil price crisis.

Shell said on Thursday that it had booked a loss of $18.1 billion for the second quarter of 2020 compared to a profit of $3 billion in the same period last year.

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