CITYA.M.
Happy as a clam: Shell raises value of oil and gas assets as refining soars
NICHOLAS EARL: THURSDAY 07 JULY 2022 3:28 PM
Shell has announced it will reverse up to $4.5bn in write-downs taken on the value of its oil and gas assets after raising its energy prices outlook following Russia’s invasion of Ukraine and subsequent disruption to fossil fuel trading across the world.
In an update ahead of its second quarter results on July 28, the energy giant revealed its refining margins almost tripled over the three-month period.