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Shell makes record loss in 2020 after more write-offs

Shell makes record loss in 2020 after more write-offs

Published date: 04 February 2021

Shell posted a record loss in 2020 after it booked more hefty write-offs in the fourth quarter.

Excluding inventory effects, Shell made a loss of $4.48bn in the October-December period, compared with a profit of $871mn a year earlier. The quarterly loss was largely driven by pre-announced, non-cash post-tax impairment charges of $2.7bn and charges of $1.1bn mainly for “onerous contract provisions”. read more

royaldutchshellplc.com and its sister websites royaldutchshellgroup.com, shellenergy.website, shellnazihistory.com, royaldutchshell.website, johndonovan.website, shellnews.net and shell2004.com are all owned by John Donovan. There is also a Wikipedia article.

Shell plans to complete construction at Pennsylvania petchem project by 2022: CEO

Shell plans to complete construction at Pennsylvania petchem project by 2022: CEO

PETROCHEMICALS: 04 Feb 2021 | 21:06 UTC: New York

New York — Shell Chemical announced that construction at its $6 billion petrochemical complex in Pennsylvania is expected to be completed in 2022, Shell CEO Ben Van Beurden said during an earnings call Feb. 4.

Shell previously expected the Pennsylvania project to start up in the first half of 2021 after suspending work in mid-March 2020 due to coronavirus pandemic concerns. read more

royaldutchshellplc.com and its sister websites royaldutchshellgroup.com, shellenergy.website, shellnazihistory.com, royaldutchshell.website, johndonovan.website, shellnews.net and shell2004.com are all owned by John Donovan. There is also a Wikipedia article.
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