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  4. Shell upgrades value of oil and gas assets by up to $4.5 billion
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Shell upgrades value of oil and gas assets by up to $4.5 billion

LONDON (Reuters) - Shell (LON:RDSa) on Thursday said it will reverse up to $4.5 billion in writedowns on oil and gas assets after it raised its outlook for energy prices in the...
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Shell upgrades value of oil and gas assets by up to $4.5 billion © Reuters. FILE PHOTO: General view of a Shell petrol station sign, in Milton Keynes, Britain, January 5, 2022. REUTERS/Andrew Boyers

LONDON (Reuters) - Shell (LON:RDSa) on Thursday said it will reverse up to $4.5 billion in writedowns on oil and gas assets after it raised its outlook for energy prices in the wake of Russia's invasion of Ukraine.

In an update ahead of its second quarter results on July 28, Shell said its indicative refining margin nearly tripled in the second quarter to $28.04 per barrel from $10.23 a barrel in the first quarter and $4.17 a year earlier.

"In the second quarter 2022, Shell has revised its mid and long-term oil and gas commodity prices reflecting the current macroeconomic environment as well as updated energy market demand and supply fundamentals," it said.

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01-05-2024 10:45:17 (UTC+7)

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EUR/USD

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 EUR/USD1.0658↑ Sell
 GBP/USD1.2475↑ Sell
 USD/JPY157.91↑ Buy
 AUD/USD0.6469Neutral
 USD/CAD1.3780↑ Buy
 EUR/JPY168.32↑ Buy
 EUR/CHF0.9808Neutral
 Gold2,295.80↑ Sell
 Silver26.677↑ Sell
 Copper4.5305↑ Buy
 Crude Oil WTI81.14↑ Sell
 Brent Oil85.62↑ Sell
 Natural Gas1.946↑ Sell
 US Coffee C213.73↑ Sell
 Euro Stoxx 504,920.55↑ Sell
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 FTSE 1008,144.13Sell
 Hang Seng17,763.03↑ Sell
 Small Cap 20001,973.05↑ Sell
 IBEX 3510,854.40Neutral
 BASF49.155↑ Sell
 Bayer27.35↑ Sell
 Allianz266.60↑ Sell
 Adidas226.40↑ Sell
 Lufthansa6.714Neutral
 Siemens AG175.90↑ Sell
 Deutsche Bank AG15.010Neutral
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