Shell Exits Russia and Writes Off Up to $5 Billion in Assets
Oil and gas industry giant Shell has announced that the company will write off $4-$5 billion in assets following its exit from Russia in the wake of the Ukraine invasion. Shell also warns investors that the volatility of energy prices during the first quarter of 2022 could negatively impact cash flow. This means that the recent invasion has left companies scrambling to adjust to the major shifts in the energy markets despite the surge in oil and gas prices. This announcement offers an early...
