2022-04-07 21:17:55
Forbes: Shell said it expects a post-tax impairment of
between $4 billion and $5 billion of assets and charges
related to credit losses and contracts in Russia in the
first quarter of 2022, higher than its previous estimate
of $3.4 billion. The write-down will not impact the
company's earnings, which are set to be announced in
early May. Shell is not the only energy company to be
impacted: BP faces a hit of up to $25 billion for leaving
Russia, and ExxonMobil is also preparing for losses in
Russia which could be as high as $4 billion.
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