MARKETS

Shell braces for huge loss as Aus assets impaired

Prelude and QCLNG take US$9.3B hit

Ben van Beurden. Image from Commons: By José Cruz/Agência Câmara - http://agenciabrasil.ebc.com.br/internacional/foto/2015-04/o-presidente-mundial-da-shell-bem-van-beurden-da-entrevista, CC BY 3.0 br, https://commons.wikimedia.org/w/index.php?curid=39782169

Shell chief executive Ben van Beurden declared 2020 a "very tough… and very painful year" as lower oil and LNG prices, lower production volumes, and decimated refining margins, hit profits. The fourth...

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