Oil Majors Have Cash for a Good Clearout in Russia

It is a great time for oil companies to be kitchen-sinking Russian assets.

Shell said Thursday it expects to write off $ 4 billion to $ 5 billion worth of assets in the country — much more than the $ 3 billion of Russian noncurrent assets on its books at the end of last year. The additional impairment includes receivable write-downs, expected credit losses and onerous contracts.

Leave a Comment