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Oil main Shell to write down down belongings value as much as $22 billion in second quarter

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An in depth view of a Shell gasoline station signal displaying the low worth of $1.69 per gallon, the results of the coronavirus (COVID-19) outbreak on March 31, 2020 in Jacksonville, Fl.

David Rosenblum | Icon Sportswire | Getty Photos

Oil large Royal Dutch Shell mentioned on Tuesday it should write down the worth of its belongings by as much as $22 billion within the second quarter, after revising down revising its long-term outlook for oil and gasoline costs.

It comes after the power firm introduced in mid-April an ambition to scale back greenhouse gasoline emissions to web zero by 2050.

Shares of Shell had been marginally decrease shortly after the opening bell.

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