The Upstream segment recorded a $4.7 billion charge, mainly against the value of North American unconventional assets, Gulf of Mexico properties and assets in Brazil, Europe and Nigeria. The Oil Products segment had a $4 billion writedown, mainly for North American and European refineries. In addition, Corporate recorded a $5 million charge. How long and how deep Covid-19 swamps the global economy has led to uncertainty in Shell’s outlook through September for the upstream, refinery and petrochemical businesses. In addition, the LNG trading unit is likely to take a deeper hit in 3Q2020 because of the time lag for ... (full story)