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Shell swings to loss on $16.8 billion impairment

Christian Fernsby |
Royal Dutch Shell PLC on Thursday posted a swing to a significant loss on a current cost of supply basis for the second quarter on the back of impairments and lower prices, volumes and margins.

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Topics: SHELL   

Booked a CCS loss of $18.38 billion for April June, swinging from a $3.02 billion profit a year earlier. The net loss came in at $18.13 billion, also reflecting an impairment of $16.8 billion relative to lower oil and gas price forecasts.

Excluding identified items, the company delivered a CCS profit of $638 million, down 82% from $3.46 billion a year earlier.

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