, a sharp swing from the $3.2 billion in income it posted in the second quarter of 2019.
The $18.1 billion loss included"an impairment charge of $16.8 billion post-tax ," the oil giant said. Shell said in its earnings report:"As a result of COVID-19, there continues to be significant uncertainty in the macroeconomic conditions with an expected negative impact on demand for oil, gas and related products. Furthermore, recent global developments and uncertainty in oil supply have caused further volatility in commodity markets.
Source: Financial Digest (financialdigest.net)
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