Shell Faces $5 Billion Impairment Charge Over Exit From Russia ...Middle East

Western oil majors have quit Russia altogether, taking billions of dollars in vague impairment charges on Russian energy assets, and now comes the hard math. This morning energy giant Shell Plc said that it will write off between $4 and $5 billion in assets in a first-quarter 2022 outlook. Thursday's announcement provides investors with an early glimpse at the costs of fracturing global supply chains for oil majors following Shell's decision to exit Russia after the invasion of Ukraine.  "For the first quarter 2022 results, the post-tax impact…

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